By Sheila Nu Nu Htay
A complete advisor to present matters and practices in governance for Takaful and re-Takaful operations
As the worldwide call for for Islamic assurance items raises, a radical figuring out of Takaful rules is key for accountants, auditors, and leaders of businesses supplying those items. This publication covers the elemental accounting rules and practices of Takaful operations, together with the segregation of resources, liabilities, source of revenue, and charges among the Takaful operator and contributors; the atmosphere apart of money reserves for assembly amazing claims and destiny claims; and the administration of profit and expenditure. that includes broad case experiences from real-world occasions, this ebook is the ideal primer for accounting scholars and practitioners surprising with Islamic finance and Takaful operations.
- Written via specialists from the International...
The EPUB structure of this name will not be appropriate to be used on all hand held devices.
Read Online or Download Accounting, Auditing and Governance for Takaful Operations PDF
Best insurance books
Chosen as one among Motley Fool’s "5 nice Books you want to Read"
In The AIG tale, the company's long term CEO Hank Greenberg (1967 to 2005) and GW professor and company governance specialist Lawrence Cunningham chronicle the origins of the corporate and its relentless pioneering of open markets all around the global. They regale readers with riveting vignettes of ways AIG grew from a modest crew of assurance businesses in 1970 to the biggest coverage corporation in international heritage. they assist us comprehend AIG's precise entrepreneurial tradition and the way its striking staff around the world helped pave the line to globalization.
• Corrects a variety of universal misconceptions approximately AIG that arose as a result of its function on the middle of the monetary obstacle of 2008.
• a different account of AIG via one of many iconic enterprise leaders of the 20 th century who constructed shut relationships with some of the most vital international leaders of the interval and helped to open markets everywhere
• deals new serious viewpoint on battles with N. Y. lawyer basic Eliot Spitzer and the 2008 U. S. govt seizure of AIG amid the monetary crisis
• stocks massive details no longer formerly made public
The AIG tale captures a powerful saga in company history--one of innovation, imaginative and prescient and management at a firm that used to be nearly--destroyed with a number of strokes of governmental pens. The AIG tale contains vital classes and implications for the U. S. , specially its position in foreign affairs, its method of company, its criminal approach and its dealing with of monetary crises.
Utilized Stochastic versions and regulate for Finance and coverage provides at an introductory point a few crucial stochastic versions utilized in economics, finance and coverage. Markov chains, random walks, stochastic differential equations and different stochastic approaches are used during the e-book and systematically utilized to financial and monetary functions.
The publication will function a advisor to many actuarial thoughts and statistical options in a number of decrement versions and their program in calculation of charges and reserves in existence assurance items with riders and in pension and worker gain plans as in those schemes, the convenience paid on termination of employment is dependent upon different motives of termination.
A finished advisor to present concerns and practices in governance for Takaful and re-Takaful operationsAs the worldwide call for for Islamic assurance items raises, an intensive realizing of Takaful ideas is key for accountants, auditors, and leaders of businesses providing those items. This publication covers the elemental accounting rules and practices of Takaful operations, together with the segregation of resources, liabilities, source of revenue, and charges among the Takaful operator and individuals; the environment apart of money reserves for assembly amazing claims and destiny claims; and the administration of profit and expenditure.
- Health Insurance Resource Manual: Options for People with a Chronic Disease or Disability
- Pricing in General Insurance
- Risk Theory and Reinsurance
- Advances in Mathematical Finance
- Directors’ and Officers’ liability insurance
Additional info for Accounting, Auditing and Governance for Takaful Operations
Waqf (endowment): The principle is to consider the contribution as donation/contribution used as a charity. Waqf is a new model used only in Pakistan and South Africa. The trend in the Middle East and now in the Far East is for a combination of both models: wakalah for underwriting and mudaraba for investment. 2 Basic Takaful Model The takaful fund consists of payments of contributions by participants. A portion of the contributions paid is relinquished as a donation (tabarru’) to pay claims to fellow participants who suffer from defined losses.
However, in our pride we should not ignore the challenges facing the industry. One such challenge is talent development. To maintain such rapid growth the industry demands adequate supplies of knowledgeable and competent human talent. The operators are constantly on the lookout for human talent that would take the industry to the next level. Malaysia has medium- and long-term plans to develop this requisite human talent. A key component of these plans is academic programs offered by various educational institutions.
3 Cooperative Model This is the model used in Sudan as a government-backed takaful operation to meet the specific needs of the people in the country. The weakness of this model is that there is little room for entrepreneurship and raising capital is a problem. Pure Wakalah (Agency) Model The wakalah concept is essentially an agent-principal relationship or a contract of agency. In this contract, one person appoints someone else to perform a certain task on his behalf, usually against a fixed fee, AAOIFI (2009).
Accounting, Auditing and Governance for Takaful Operations by Sheila Nu Nu Htay
- Download e-book for kindle: Fernsehtechnik: Grundlagen Verfahren Systeme by Lothar Krisch (auth.), Wolfgang Schneider (eds.)
- Lighter than Air Robots: Guidance and Control of Autonomous by Yasmina Bestaoui Sebbane PDF