Certified Takaful Professional

Certified Takaful Professional

“Certified Takaful Professional” course is designed to produce highly skilled and competent Takaful professionals with the knowledge of the products, concepts of operational mechanism and the understanding of legal, financial and risk management issues of Takaful and also the understanding of differences & similarities between Takaful and conventional insurance.

Takaful (The Islamic insurance) is a Shariah-compliant alternative of conventional insurance. It is based on mutual cooperation, responsibility, assurance, protection and assistance among group of participants.

The global market for Takaful products is one of the most exciting and high potential sector in the international financial services today. With the industry still in a stage of development, significant growth has been witnessed over the past five years.

Certified Takaful Professional

 

Modules and Study Details

 

For the successful completion of this Diploma, a candidate should devote an average of 21 hours for study and submit the assignments accordingly.Course completion duration is 6 months, however it may be completed in 8 months.

Duration:6 Months
Number of Modules:2
Assignment per Module:3
Duration of each Module:12 Weeks
Total Number of Courses:6

Module I

(Introduction to Riba & Islamic Finance)


CTP: 401: Riba & Islamic Economics

  • What is Riba (Interest)? Prohibition of Riba in Islam.
  • Types of Riba.
    • Riba tul Nissayah
    • Riba tul Fadle
  • Riba in Modern Banking and Insurance.

CTP: 402: Overview of Islamic Economics & Banking

  • Introduction to Islamic Economics System.
  • Comparison of Islamic Economic System with Socialism & Capitalism.
  • Introduction to Islamic Banking and Finance, Islamic Banking and Financial Products and their Mechanisms.

CTP: 403: Introduction to Takaful ( Islamic Insurance )

  • What is Takaful? Shariah Mechanism of Takaful.
  • Takaful System in Islamic Era.
  • Philosophy and development scenario of Islamic Insurance.

Module II

(Takaful & Risk Mitigation tools in Islamic Finance)


CTP: 404: Shariah Elements/Principles in Takaful

  • Definations & Concept of Waqf, Wakalah, Hibba & Tibbarue, which are used in Takaful System.
  • Involvement of Riba, Gharar, Maiser & Qamar in Conventional Insurance Business.
  • Comparison of Takaful vs. Conventional Insurance

CTP: 405: Takaful Models, Type & Structures

  • Structure, operation and performance of Takaful.
  • Different Models of Takaful e.g. Wakalah Waqf Model, Modaraba Model, Wakala Model, and Surplus Distribution mechanism in all models
  • Type and Products of Takaful Business
    • General Takaful
    • Family Takaful

CTP: 406: Takaful Products & Risk Management in Islam

  • Different Takaful concepts in Takaful Industry: BancaTakaful, Re-Takaful, Micro Takaful, Claim Management, etc.
  • Risk Management according to Islamic Perspective, Shariah ruling for Hedging, Derivative, Future, Hedging & Swap Instruments
  • Takaful products worldwide, Marketing Strategies for  Takaful Products.

Study Material

This course consists of Two modules and each module has 2 months duration. Each Module builds up knowledge from the previous one. You are evaluated by subjective as well as multiple choice question on each lesson.

As you get registered an introductory material set is sent to you that include:

  • A username and Password to login into Student Section on AlHuda CIBE website.
  • Literature & Presentations in PDF format.
  • Video CD’s & PowerPoint Presentations.
  • Solved and unsolved case studies.
  • Books in PDF format, List of references Book and related websites.
  • E-mails of advisory panel to consult with them.
  • Free subscription of fortnightly online magazine “Islamic Banking and Finance”
  • Bi-Monthly home delivery Magazine named, ”True Banking”

The introductory material set includes comprehensive PowerPoint Presentations; topic related literature, useful web links, magazine & newspapers, articles and conference papers on Islamic banking and finance as well as recommended the book list. Students also utilize the Knowledge Centre section of AlHuda CIBE website (www.alhudacibe.com). The next module material is sent after the successful completion of the previous module. The study material would be sent in soft form.