This module discusses the philosophy and concepts of Reinsurance and Retakaful along with its respective historical background. Participants will learn on the operational, regulation of Retakaful and the administration of Retakaful business. Shariah features in Retakaful will be discussed in-depth at the middle of the module. Lastly in Chapter 4 & 5, the discussion will be on forms of Retakaful and types of Retakaful currently available and practised in the market.
Effectively discuss the concept of risk sharing between the Takaful operator and Retakaful operator.
Effectively appraise the purpose of Shariah involvement in Retakaful’s operations.
Anticipate opportunities affecting Retakaful in the global market and challenges faced.