International Experts Conduct Seminar on Islamic Insurance at National Bank of Tajikistan
Dushanbe, The Gulf Observer: The National Bank of Tajikistan hosted a seminar on Islamic insurance (Takaful) with the participation of international experts from the Islamic Financial Services Board, aimed at enhancing knowledge and promoting the development of Islamic financial services in the country.
According to information provided by the National Bank of Tajikistan and reported by Khovar News Agency, the event brought together specialists from the central bank, insurance companies, financial credit institutions, auditing organizations, and representatives of relevant ministries and government agencies.
Speaking at the opening ceremony, organizers said the primary objective of the seminar was to bring together key stakeholders, introduce the Islamic insurance system (Takaful) to the national insurance market, and enhance the professional knowledge and skills of specialists working in Tajikistan’s financial sector.
Participants were informed that, amid the rapid global growth of Islamic finance, studying and implementing advanced international practices in Islamic financial services, including Takaful, is becoming increasingly important. Such initiatives are expected to expand opportunities within the country’s financial market and attract a broader range of users to financial services while serving national and public interests.
During the seminar, international IFSB expert Dr. Kartina Arrifin delivered a detailed presentation titled “Takaful: Concepts and Basic Structure.” The presentation covered the principles and concept of Islamic insurance, its differences from conventional insurance, risk management mechanisms, the prevention of uncertainty in financial transactions, financing models, globally practiced Takaful frameworks, regulatory requirements, and the importance of complying with accepted standards throughout all stages of operations.
The expert also briefed participants on the benefits of the Takaful system for various segments of society, transparent distribution of funds and liabilities, the legal and regulatory framework governing Takaful activities, and ways to strengthen cooperation between the public and private sectors in the development of Microtakaful services.
The seminar forms part of ongoing efforts by the National Bank of Tajikistan to promote awareness of Islamic finance and explore new opportunities for diversifying the country’s financial services sector in line with international best practices.
