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One day SECP Conference on Takaful |
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Omer Morshed CEO, Sidat Hyder & Morshed Associates on Dr. Imran |
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Securities & Exchange Commission of Pakistan organized a One – Day Conference on Takaful at Sheraton Hotel Karachi on 14th March, 2007. The Conference had a large gathering of scholars, professionals and practitioners of the takaful and conventional insurance industry, from Worldwide.
The Conference started with the opening speech from Chairman SECP, Mr. Razi-ur-Rehman Khan. The Chairman highlighted the importance of takaful in the overall Islamic financial system and development of insurance. Chairman mentioned that SECP has so far given two takaful licenses and 5 applications are in process including joint ventures. Chairman said that SECP is very keen in development of takaful and overall insurance industry in Pakistan. |
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Shoib Soofi Director SECP Lead the "Talk Show" on SECP Takaful Conference |
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The Conference discussed important aspects of takaful industry like re-takaful, shariah issues, regulatory issues, operational issues, window operations and experience of Islamic Banking for Takaful. Leading Professionals, Market Players, Bankers and Shariah Experts participated in the panel discussion both from Pakistan and overseas. The Conference was divided into four sessions to discuss issues like window operations, takaful rules, relaxation in rating required by SECP for re-takaful companies, role of regulator in promoting Takaful, and experience of islamic banking, during which experts presented their viewpoints followed by comprehensive discussion. There are many technical sessions held in the conference. The first session was on Re Takaful and chaired by Chakib Abouzaid :CEO Takaful Re Ltd and other panelist were Captain M. Jamil Akhtar Khan CEO, Takaful Pakistan Ltd, Hassan Mujtaba Chairman, Al-wasl group. Second session headed by Omer Morshed CEO, Sidat Hyder & Morshed Associates on the topic of “ Issue of Takaful” the other penalist of this session was Dr. Imran |
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Participant of “ Takaful “ Conference, while AlHuda CIBE Stall/Banner prominent on the back side in the picture |
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An interactive Talk show also included in the program. The Topic of Talk show was“ Window operation for conventional insurance industry “ . The moderator of this session was Shoaib Soofi (Director SECP and other participant were Saifuddin Zoomkawala (MD & CEO, EFU General Insurance Ltd.)Tahir Ahmed (Chairman, Insurance Association of Pakistan) Abdul Rahim Abdul Wahab (Director, Sidat Hyder Morshed Associates) , Hassan Kaleem (Shariah Expert), M. Vaqaruddin (CEO, Pak-Qatar General Takaful Ltd.). The last session consist the debating of Islamic Banking Experience: A Guideline for Takaful, which is chaired by Azhar Kureshi (Executive Director, SBP) and other panelist were Najmul Hassan (General Manager, Meezan Bank Ltd, Muhammad Imran (Head of Islamic Banking, Standard Chartered Bank) |
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Imran Usmani : A prominent Sharia Scholor Speaking at the occasion |
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The Chairman SECP concluded the Conference on the note that Conferences such as this can contribute invaluable ideas to foster new initiatives towards the development of Takaful and that SECP will conduct such more events in future for the development of the sector. The Conference highly appreciated by Govt. Level, Insurance, Takaful and Banking Industry and admires the effort of Shoib Soofi - Director Insurance SECP and Irum Saba – Junior Executive SECP and other members of the team. Islamic Banking and Finance News was the Media Partner of SECP in this event. |
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Participant of “ Takaful “ Conference, while AlHuda CIBE Stall prominent on the Back side in the picture |
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