World Takaful Conference to be inaugurated in Dubai

Salama, the world's largest Takaful company, and HSBC Amanah have announced their platinum sponsorship of the WTC, which has been launched in strategic partnership with the Dubai International Financial Centre (DIFC).

The two day conference will be staged at the Grand Hyatt Convention Centre and will provide the latest information on emerging trends and developments in the Takaful industry to more than 150 delegates.

Dr Saleh Malaikah, Vice Chairman and CEO of Salama, said: "The rapid growth of Takaful is one of the most important developments in the global insurance industry. The World Takaful Conference will act both as a business driver and a knowledge resource that will have an impact on the Takaful and Re-Takaful markets for many years. We are delighted to be the Platinum Sponsor of the inaugural conference in Dubai."

Ajmal Bhatty, Global Head of Takaful ,HSBC Amanah said "Takaful is one of the fastest growing sectors of insurance and has excellent potential. We are very much committed to supporting this industry which is fast moving beyond its formative years and encourage healthy debate and consensus in meeting the challenges for its secure and stable growth."

According to the 2005 Global Takaful Review, the total worldwide Takaful premiums covering both non-life and life insurance are expected to reach US$7.4 billion by 2015. The Takaful industry represents an important component in the overall Islamic financial system given its role in mobilising long-term funds, providing risk protection, development of the Islamic capital market as well as supporting overall economic growth and development. This sets the stage for a stimulating debate on Takaful for which the conference will provide a platform to senior executives and industry leaders.

Ajmal Bhatty will talk on "Shifting Takaful into higher gear" during the Bancassurance: Capitalising on Opportunities for Providing Takaful Solutions through Alliances with Banks session of the conference.

Other conference sessions include: Assessing the Legal & Regulatory Challenges in the Takaful Industry, New Business Models & Innovative Takaful Products, Assessing Growth Opportunities in Key Takaful Market Segments, and The Conventional Insurance Market and Takaful, Re-Takaful & Risk. There will also be a Shari'ah and Business Open Forum as well as The WTC 2006 PowerTable.

WTC participants will engage in discussions on major issues in these eight interactive conference sessions that will be moderated by Nima Abu-Wardeh, Presenter, BBC Middle East Business Report.

The event will be addressed by a distinguished faculty of speakers and panellists including leaders of international and regional institutions such as Dubai international Financial Centre (DIFC); Salama Islamic Arab Insurance Company; HSBC Amanah; Takaful Re; Abu Dhabi National Takaful Company; Solidarity; The Insurance Commission, Jordan; Islamic Insurance Company; Dubai Financial Services Authority; Arab Insurance Group (ARIG); Arab American Islamic Insurance Company; Banl Al Jazira; FWU Group; Institute of Islamic Finance; GoodHealth Worldwide; Unicorn Investment Bank; Oman Insurance Company; Jardine Lloyd Thompson; Al Wathba National Insurance Co.; AMAN; Ernst & Young Bahrain and Norton Rose.