FIN368 : Takaful insurance

Department

Department of Financing and Banking

Academic Program

Bachelor in Finance and banking

Type

Elective

Credits

03

Prerequisite

FIN263

Overview

The study of the course aims to introduce the student to the general concept of insurance and to get acquainted with the legality of insurance contracts, and to introduce the student to the concept of Takaful insurance, its origin and the legal framework for it, and through it the student can distinguish between the Takaful insurance system and the commercial insurance system, and to get acquainted with the most important management formulas in the Takaful insurance companies The student also acquires general skills and culture in this field, through which he gains experience and uses them in public life related to the field of insurance.

Intended learning outcomes

A. Knowledge and understanding:

  • To familiarize the student with the general concept of insurance and the parties to the insurance process.
  • To familiarize the student with the Takaful insurance system and its importance in the insurance sector.
  • How to separate the accounts of the Takaful insurance company (shareholders account - donors account).
  • That the student understand how the insurance surplus is distributed to the insured (donors).

B. Mental skills:

  • The student develops the ability to distinguish between the coverable insurance risk and the general risk.
  • The ability to differentiate between commercial insurance and Takaful (Islamic) insurance.
  • Learn about the most important approved formulas for investing the insurance surplus that do not conflict with the provisions of Islamic Sharia.
  • The ability to logically analyze risks and manage them using approved technical methods in this field.

C. Scientific and professional skills:

  • How to deal with the insurance deficit and methods of treatment according to the general concept of Takaful insurance on the basis of cooperation between policyholders.
  • Identify the technical methods used in managing the risks covered by the company.
  • The ability to discuss with insurance companies some details related to insurance documents that need specialists in the field of insurance.
  • The ability to prepare proposals that may contribute to solving problems facing insurance companies
  • That the student learns how to invest the insurance surplus in accordance with Islamic Sharia.

D. General skills:

  • Gaining a spirit of cooperation and discussion in a scientific manner that advances the presentation of relevant perceptions.
  • The ability to communicate, teamwork, accept opinions and reach the best solutions.
  • Gaining experience in the field of insurance due to its importance in the national economy.
  • Providing scientific cadres capable of covering the requirements of the labor market in the field of insurance.

Teaching and learning methods

  1. Study lectures.
  2. Case studies and practical applications.
  3. Various exercises on the contents of the course.
  4. Diversity in questions and activating panel discussions to develop comprehension.

Methods of assessments

  1. Midterm exam 20%.
  2. Research paper 10%.
  3. Activity 10%.
  4. Final exam 60%.

Course content

Number of hours

scientific subject

Week

6

Theoretical foundations of the Takaful insurance system.

1-2

12

Takaful insurance contract controls.

3-4-5-6

12

Basics about Takaful insurance companies.

7-8-9-10

12

Insurance surplus in Takaful insurance companies.

11-12-13-14

Portfolio theory (FIN361)
Audit and control of banks (FIN465)
Various insurance (FIN464)
Re Insurance (FIN463)
Finance and real estate investment (FIN462)
Contemporary financial issues (FIN460)
Quantitative methods in finance (FIN369)
Takaful insurance (FIN368)
Financial indicators and investment funds (FIN367)
International investment (FIN366)
Financial derivatives (FIN365)
Securities and currencies analysis (FIN364)
Advanced corporate finance (FIN363)
Investment evaluation (FIN362)
Corporate finance (FIN360)
Financial analysis and forecasting (FIN269)
Financial institutions (FIN268)
Banking operations and policies (FIN267)
Financial markets (FIN266)
Islamic financing and investment formulas (FIN265)
Fundamentals of Islamic banking (FIN264)
Insurance basics (FIN263)
Financial policies (FIN466)
International Finance (FIN467)
Financial management (FIN260)
Strategic financial analysis (FIN468)
Banking marketing (FIN469)
Planing peincipals (PLA170)
Financing Principles (FIN160)
Accounting Principles I (ACC 130)
Principles of Accounting II (ACC131)
Investing basics (FIN262)
Banking basics (FIN261)