Takaful and Commercial Insurance: Modern Practice Training Course (Online / Remote)
1Summary
Why do two companies selling what looks like the same insurance product operate on completely different financial models? The answer lies in the split between commercial insurance, built on a for-profit structure, and Takaful insurance, built on mutual responsibility and Islamic finance principles.
As road networks, cities, and industry expanded, insurance emerged as a practical way to protect individuals from the risks that come with everyday economic activity, and it is now used across most countries in some form. Takaful companies grew out of a demand for insurance models that align with Islamic Sharia, and this course looks at both systems side by side — how each is structured, applied, and regulated — so participants can manage employee insurance and understand contract conditions in either framework.
2Objectives and target group
Target Audience
- Institution and company managers, and business owners developing their insurance management skills.
- Business administration students and graduates.
- Anyone looking to build a career in the Takaful insurance sector.
Course Benefits
- Gain hands-on experience issuing general insurance policies that comply with Sharia law and regulations.
- Learn to prepare and follow up on price quotes across different insurance types.
- Stay current with the latest developments in both Takaful and commercial insurance, and understand the difference between them.
- Draft insurance contracts in a way that prevents manipulation or fraud.
3Course Content
Module 1: Two Models, One Purpose — Takaful vs. Commercial Insurance
- Takaful insurance: shared responsibility and cooperation, where participants contribute to a fund covering potential losses in line with Islamic values.
- Commercial insurance: pooling risk through a for-profit company structure.
- Key differences: profit motive versus mutual assistance rooted in Islamic finance.
Module 2: Legal and Regulatory Framework
- Laws and regulations governing insurance practice, including rules specific to Takaful.
- Classification of risks and damages, and the procedural terminology and codes used across the industry.
Module 3: Where Takaful Is Headed
- Common procedure codes used in Takaful claims and operations.
- Modern applications: digital platforms and smart contracts for better customer engagement and risk management.
Module 4: Delivery, Locations, and Certification
- Course locations: Egypt, Jordan, Malaysia, Turkey, and across Europe, Australia, and the United States, scheduled to suit participants' work commitments.
- Training formats: group training at academy centers, one-on-one training, field training, and theoretical classroom training.
- A certified completion certificate from the Arab British Fellowship Training Academy.