Graduate Education Institute · Islamic Economics and Finance (English) · Master
ECTS: 7.5 T+P+L: 3+0+0 Departmental Elective
Coordinator: Prof. Dr. Monzer KAHF
Course Objective
The primary purpose of this course is to provide a reference point representing state-of-the-art thinking, theories and practices on all of the major topics in Takaful comparing with conventional insurance, and discussing issues and challenges of the industry.
Course Content
This subject discusses the reasons why conventional insurance is frowned upon, the need for and evolution of Takaful, the Shariah basis and features of Takaful, various models of Takaful, the status, opportunities and the challenges facing the Takaful industry.
Course Learning Outcomes
- To understand the role of Takaful in the Islamic economic system.
Core Area Distribution
(34) Business and Administration%100
Teaching Methods
ExpressionQuestion-AnswerDiscussionPresentationSelf studyProject Based Learning (Including Field Work)
Assessment & Evaluation
Performance Assignment ( Lab / Workshop / Field Work / Seminar / Presentation / Completion Study / ThesisProject / DesignTesting (Essay / Tests: True-Falls, multiple-choice, short answer, matching)
ECTS / Workload
| Activity | Quantity | Duration (h) | Total Workload |
|---|---|---|---|
| Course Duration (Including Exam Week) | 15 | 3 | 45 |
| Out of Class Study Period | 15 | 4 | 60 |
| Midterm | 1 | 5 | 5 |
| Quiz | 2 | 5 | 10 |
| Assignment | 1 | 20 | 20 |
| Practice | 0 | 0 | 0 |
| Final | 1 | 15 | 15 |
Course Schedule
| Week | Subject | Preparation |
|---|---|---|
| 1 | Introduction to Takaful | Ch 1 |
| 2 | Nature and Concept of Risk and Uncertainty | Ch 2 |
| 3 | Basic Principles of Takaful | Ch 3 |
| 4 | Takaful Business Models | Ch 4 |
| 5 | Takaful vs Conventional Insurance | Ch 5 |
| 6 | Family Takaful Products | Ch 6 |
| 7 | General Takaful Products | Ch 7 |
| 8 | Midterm Exam | Midterm Exam |
| 9 | Takaful Operations and Processes | Ch 8 |
| 10 | Distribution and Servicing | Ch 9 |
| 11 | Underwriting and Claims Management | Ch 10 |
| 12 | Actuarial Concepts | Ch 11 |
| 13 | Retakaful: Concepts and Methods | Ch 12 |
| 14 | Issues and Future of Takaful | Ch 13 |
| 15 | Revision and Presentations | Revision and Presentations |
| 16 | Final Exam | Final Exam |