CII rolls out Islamic insurance course

The Chartered Institute of Insurance has launched a module on Islamic insurance, or Takaful, in the UK.

This is in continuation of its partnership with the Bahrain Institute of Banking and Finance.

The new qualification, which will be available in September 2008, will cover topics such as Shariah practice and perspective, comparative analysis between conventional and Takaful companies and accounting standards for Takaful. It will also focus on surplus and loss distribution, structure and operations of Islamic insurance companies and family and general Takaful products.

Lee Gladwell, director general of general insurance for the CII said: "The Takaful sector is quickly establishing itself as a key component in the industry - not just in the Middle East, but throughout the world and the CII is delighted to be part of this exciting project.

"We aim to have all the learning materials in place and available for UK applications by the beginning of September and the successful examinees will receive an internationally recognised certificate."

Mark Greenwood, head of regional business for the CII in the Middle East, said: "We are proud to be working with the BIBF, which is seen as the leading provider of Islamic finance and insurance training programmes throughout the Middle East and, by combining our experience and resources with their expertise, we will jointly be able to offer a vital addition to the further development of the Takaful market."