If you have questions during the Q&A period, please ask them via the Youtube chat function.
The COVID-19 pandemic and associated economic lockdown has impacted the livelihood of many people, especially those in the low-income group. The International Labor Organization (ILO) estimated that 1.6 billion workers in the informal economy have suffered massive damage to their capacity to earn a living. Additionally, the pandemic also creates a significant risk of business failures and more permanently scaled-back production, thereby transforming an immediate crisis into a medium to long-term dislocation of productivity, labor markets, and growth potential.
Takaful plays a critical role in ensuring that people and households stand ready to mitigate unexpected shocks, preserve their assets, and take productive risks. Takaful operators are also responsible for generating economic opportunities by investing capital over longer-term horizons in productive opportunities such as infrastructure development, which can create jobs, fuel growth, and encourage innovation.
As many countries make efforts to recover from the serious effects of the pandemic, this webinar will discuss the role of Takaful in providing adequate risk protection for households and business enterprises. There will also be a discussion on how the Takaful industry can support the required economic recovery.
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If you have questions during the Q&A period, please ask them via the Youtube chat function.
Firas Raad, a Jordanian National, is the World Bank Country Manager in Malaysia. He was formerly the Country Manager for Kuwait. Raad joined the World Bank in 2002 as a Senior Health Policy Specialist. More recently, he was working in the Health, Nutrition and Population (HNP) Global Practice. He has extensive health policy experience in various countries in the Middle East and North Africa region. Prior to 2009, Raad focused on implementing health sector reforms in Lebanon, Palestine and Egypt. He also served as the World Bank Human Development Coordinator for the Gulf Cooperation Council (GCC) countries. Between 1997 and 2000, Raad was the Private Secretary for Health Affairs in the Royal Jordanian Court providing health sector reform policy advice.
Between 2009 and 2013, Raad took a leave of absence from the World Bank and worked in the Quartet Mission in Jerusalem, first as an Advisor and later as Head of the Mission, to support Palestinian economic development.
His primary research interests are in health equity, health financing and health systems reform. He is a founding member of several regional and international organizations dedicated to peace-building, sustainable development and global health. He has published several articles on public health and development. He has a PhD in International Health Policy and Economics from the Harvard School of Public Health, and a Master’s degree in International Relations from the Johns Hopkins School of Advanced International Studies.
Mohamed Iqbal Asaria was a member of the working party set up by the Governor of The Bank of England to look into issues relating to the introduction of Islamic financial products in the UK. He was previously a resource person on International Financial Institutions and GATT/WTO for the Third World Network. He provided specialist advice on International financial flows, multi-lateral lending and international trade (1985 – 1995); and served as Chairman of the influential World Bank – NGO Committee (1985 – 1990).
He is a Fellow of the Chartered Association of Certified Accountants and a graduate of the Victoria University of Manchester where he also completed his masters in Economics (Accounting & Finance). He was awarded the Order of the British Empire (CBE) in the 2005 Queen’s honours list for services to international development.
Iqbal has advised several financial institutions in the UK and overseas on Islamic financial services. Since 2005, he has been Special Advisor on Business & Economic Affairs to the Secretary General of the Muslim Council of Britain.
Iqbal teaches post graduate courses in Islamic Finance, Banking and Insurance at several leading universities including CASS Business School, CASS Executive MBA program in Dubai,Aston Business School and Bangor Business School.
Iqbal has also been the convenor of the annual International Takaful Summit and is a leading thought leader in the Takaful industry.
Adnan Zaylani Mohamad Zahid is currently an Assistant Governor of BNM. He is a member of BNM’s Monetary Policy Committee and Financial Stability Committee, and chairs the Financial Market Committee. He is also the Chairman of the Board of BNM Sukuk Berhad, a member of the Board Executive Committee of the International Islamic Liquidity Management Corporation, and Alliance for Financial Inclusion’s Budget and Finance Committee.
Adnan joined the central bank in 1994 and has more than 25 years of experience in the areas of investment operations and financial markets. He obtained his Master in Global Market Economics and Bachelor of Science in Economics from London School of Economics and Political Science. He is also a member of the Financial Market Association of Malaysia.
Elmie Aman Najas was appointed to lead AIA’s Family Takaful business in 2014. He assumed the position of AIA Chief Executive Officer officially in January 2015. His key responsibility is to develop the Family Takaful business, drive product innovation and increase the Takaful penetration rate in the Bumi segment by leveraging on AIA and Public Bank Berhad’s leadership positions and established infrastructure and distribution networks.
Elmie was chief agency officer of AIA’s central region prior to this appointment as CEO. He is also Deputy Chairman of the Malaysian Takaful Association.