Overview
The IFMP General Takaful Providers Certification course covers the concepts of elements, structures, models, ethics, documentation, claims and selling of Takaful products. This course is mandatory for sales staff of General Takaful Companies and banks selling/ distributing General Takaful products.
Target Audience
This Exam will be mandated for sale staff of General Takaful Companies and banks selling/ distributing General Takaful products.
Assessment Structure
- This will be a 150 minutes examination of 100 Multiple Choice Questions (MCQs).
- All questions will carry equal marks.
- There will be no negative marking.
Awarding Body
This certification is awarded by the Institute of Financial Markets of Pakistan (IFMP).
Learning Outcomes
The objective of this course is to equip the trainee with the knowledge and skills which enables them to perform as a Takaful Provider efficiently and effectively.
Course Outline
- 2.1: Basic Difference Between the Islamic and Secular Economic Systems
- 2.2: Introduction to Islamic Banking and Finance and Financial Products
- 2.3: What is Riba (Interest)? Prohibition of Riba in Islam
- 2.4: Riba in Modern Banking and Insurance
- 2.5: Islamic Banking – what and from where?
- 2.6: Risk and Uncertainty
- 3.1: What is Takaful? Shariah Mechanism of Takaful
- 3.2: Takaful System in Islamic Era
- 3.3: Philosophy and Development Scenario of Islamic Insurance
- 3.4: Basic Features of Takaful Contracts
- 4.1: Involvement of Riba, Gharar, Maisir in Conventional Insurance Business
- 4.2: Comparison of Takaful vs. Conventional Insurance
- 5.1: Clear Segregation between Participant and Operator
- 5.2: Different Models of Takaful and Surplus Distribution Mechanism
- 6.1: Different Takaful Concept in Takaful Industry
- 6.2: Risk Management according to Islamic Perspective
- 6.3: Instituting Core Components of a Financial System
- 7.1: Challenges for Shariah Supervisory Board
- 7.2: Technical Aspects for Management
- 7.3: Financial Management and Investment Policies
- 7.4: Marketing Strategies for Takaful Products
- 8.1: Important Regulations from Takaful Rules, 2005 and 2012
- 8.2: Ethical issues in Takaful Selling
- 8.3: Formation of General Takaful Contract
- 8.4: Law governing Takaful Agents
- 8.5: Contractual Provisions
- 8.6: Agency Contracts
- 9.1: Important Information for General Takaful
- 9.2: Participant’s Membership Documents
- 9.3: General Takaful Underwriting and Claims
- 9.4: Surplus
- 10.1: Sales Cycle
- 10.2: Career in Takaful Selling
- 10.3: Customer Service
- 10.4: Personal Grooming
Price: US$549
Course Features
- Modules 10
- Duration 8 Weeks
- Content Type Text & media
- Assessment Yes
- Pass Percentage 70%
- Certificate Yes
