Events
Seminar on Insurance and Risk in Asia Pacific
Date: September 24, 2010
Venue: Kyoto International Community House, Kyoto, Japan
Organized by:
- Kyoto University (Japan)
Co-organized by:
- Kyoto University Global COE Program “Global Center for Education and Research on Human Security Engineering for Asian Megacities” (Japan)
- International Islamic University Malaysia (Malaysia)
Number of attendants: more than 30
Report 121
Outline
Seminar on Insurance and Risk In Asia Pacific was held at Kyoto International Community House on September 24, 2010. The conference aims to promote research and development and to provide. Islamic financing has been increasingly pervasive recently in Islamic countries. As the economy of Islamic countries grows, more demand for insurance policies with Shari’ah compliance (i.e. conforming with the Islamic disciplines of Qur’an) is expected. Growing Islamic finance markets provide business opportunities for not only Islamic financial institutions but also for Non-Islamic financial institutions being active in the global markets. Expanding the Takaful market is beneficial for Muslim consumers, both of Islamic insurance companies and non-Islamic companies and society at large. Efforts made by Non-Islamic companies to accumulate knowledge of Islamic insurance and financing techniques to attract consumers who have preference for goods and services with Shari’ah compliance should contributes to the increase of global welfare. Therefore, analysing strategies for developing the Takaful markets, which is our aim of study, is beneficial for exploiting the potential benefit of risk management in Islamic countries.
Report
Dr Azman bin Mohd Noor, an assistant professor at IIUM and a member of Shari’ah board committee in Malaysia, provided a comprehensive concept of Islamic finance and insurance referring to the fundamental disciplines of Shari’ah. The discussion at the seminar helped the participants to understand the concept of Islamic risk management and the direction of future study to exploit Islamic concept for the common wealth.
