| CODE | INS3013 | ||||||
| TITLE | Principles of Takaful Insurance | ||||||
| UM LEVEL | 03 - Years 2, 3, 4 in Modular Undergraduate Course | ||||||
| MQF LEVEL | Not Applicable | ||||||
| ECTS CREDITS | 4 | ||||||
| DEPARTMENT | Insurance and Risk Management | ||||||
| DESCRIPTION | Takaful is a type of Islamic insurance, where members contribute money into a pooling system in order to guarantee each other against loss or damage. Takaful-branded insurance is based on Sharia, Islamic religious law, and explains how it is the responsibility of individuals to cooperate and protect each other. This unit covers the principles, practices, terms and features of Takaful insurance, the nature and principles of Islamic insurance, Shariah framework of Islamic insurance, operational framework and structure of Islamic insurance markets and the ways in which the ethical considerations of Takaful are applied and practiced. Study-unit Aims: The aim of this unit is to enable students to express themselves on this specialised type of Insurance (Takaful insurances principles and practice). It seeks to provide a general knowledge of the nature and principles of Islamic insurance, Shariah framework of Islamic insurance, Operational framework and structure of Islamic insurance markets and the ways in which the ethical considerations of Takaful are applied and practiced. Learning Outcomes: 1. Knowledge & Understanding By the end of the study-unit the student will be able to: a) tackle issues with the various operational practices related to Takaful Insurance; b) comprehend the terminology used in this specialised form of insurance; c) read and interpret Takaful insurance policies and related Sharia law; d) distinguish the differences and similarities between Takaful and the traditional insurance business; e) provide explanation of the intention of the Takaful policies and their various sections of cover and exclusions. 2. Skills By the end of the study-unit the student will be able to: a) read and interpret Takaful insurance policies and related Sharia law; b) distinguish the differences and similarities between Takaful and the traditional insurance business; c) provide explanation of the intention of the Takaful policies and their various sections of cover and exclusions. Main Text/s and any supplementary readings: Recommended Text: - BIBF - CII, 2009, Principles of Takaful Insurance. |
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| STUDY-UNIT TYPE | Lecture | ||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Michel Said |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2023/4. It may be subject to change in subsequent years. |
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