The conveners of the 11th annual World Takaful Conference (WTC) - Middle East Global Advisors - announced that Abdulla Al Awar, CEO of the Dubai Islamic Economic Development Centre (DIEDC), will keynote the upcoming gathering of the global Takaful industry this April 11th.
Mr. Al Awar has been a strong advocate of strengthening Takaful as a key pillar of the Islamic finance ecosystem. One of the major discussion points at WTC 2016 will be how Takaful can support other segments of the Islamic economy and how the development of the Takaful industry can be expanded to be inclusive of all consumers including under and un-insured populations.
Speaking ahead of WTC, Mr Al Awar shared that: “The growth of the Takaful industry, exhibiting an impressive double digit growth whilst remaining underdeveloped as compared to the thriving Islamic finance industry, is paramount to strengthening the overall Islamic economy.”
He continued: “The UAE occupies a significant share of the global Takaful industry and there is greater opportunity for the UAE market to play a key role in its development -particularly the ReTakaful segment that has only 19 operators worldwide, a very low number as compared to the conventional insurance industry.”
The DIEDC was established in 2013 under the supervision of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, in order to develop and promote Dubai as the global capital of the Islamic economy. The DIEDC is founded on seven pillars, which includes finance, and Dubai’s strategic location and infrastructure has enabled DIEDC to play a formative role in forging a global Islamic ecosystem for the Muslim world.
Mr. Al Awar has been a frequent speaker at WTC and emphasized that “the World Takaful Conference facilitates a dialogue among the key stakeholders in the global Takaful industry on furthering its growth and I look forward to contributing to the discussions.”
WTC 2016 will take place on the 11th and 12th of April in the Dusit Thani Hotel, Dubai. To find out more about WTC, visit www.wtc16.com.