SYLLABUS-PRINCIPLES-TAKAFUL-RE-TAKAFUL-IPIEF.pdf

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SYLLABUS

FACULTY ECONOMIC AND BUSINESS

INTERNATIONAL PROGRAM FOR ISLAMIC ECONOMICS AND FINANCE (IPIEF)

1 Name of Course / Module Principles of Takaful and Re-Takaful

2 Course Code IPE 19231

3 Credit Value 2

4 Objective

The course aims to introduce students of the main principles of Takaful and Re-Takaful and to understand the mechanism of operations in the market.

Moreover, introduce Takaful and Re-Takaful as one parts of Islamic financial systems.

5 Learning Outcomes

1. Understand the principles of Takaful and Re-Takaful.

2. Understand the business model of Takaful and Re-Takaful.

3. Understand the regulation of Takaful and Re-Takaful.

4. Understand the products of Takaful and Re-Takaful.

5. To have knowledge of the developments of Takaful and Re-Takaful.

6 Synopsis

This course provides five main contents, such as:

1. Concept and Principle of Takaful and Re-Takaful with shariah framework.

2. History of Takaful and Re-Takaful

3. The Operations and Mechanism of Takaful and Re-Takaful.

4. The Family Takaful and General Takaful.

5. The Development of Takaful and Re-Takaful Industry.

7 References

1. Adnan Malik & Karim Ullah. (2019). Introduction to Takaful: Theory and Practice.

2. ISRA. (2015). Islamic Financial System: Principles and Operations.

3. Mohd Ma'sum Billah. (2019). Islamic Insurance Products: Exploring Takaful Principles, Instruments and Structures.

4. John Wiley & Sons (Editorial). (2009). Takaful Islamic Insurance:

Concepts and Regulatory Issues.

5. S. Nazim Ali and Shariq Nisar. (2016). Takaful and Islamic Cooperative Finance : Challenges and Opportunities.

6. Dr. H. Ending Solehudin. (2019). Perbandingan Asuransi Syari'ah dan Konvensional.

7. Novi Puspitasari. (2015) Manajamen Asuransi Syariah.

8. Nurul Ichsan Hasan, MA. (2014). Pengantar Asuransi Syariah.

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9. OJK Regulation & Fatwa DSN MUI.

8 Lecturer Ahmad Dzakirin, S.E.I., M.B.A.

9 Correspondence

IPIEF Room, Postgraduate building.

Universitas Muhammadiyah Yogyakarta E-mail: dzakirin@gmail.com

Telp: +628128301235 10 Consultation time By Appointment

11 Academic Evaluation

Assessment for this module are:

1. Total participation at 10%

2. Total assignment and discussion at 20%

3. Paper at 20%

4. Mid competency test at 25%

5. Final competency test at 25%

The Course Outline

Meeting Topics References

1 (04/Feb/2020)

Introduction of Takaful (Insurance)

 Overview of Insurance

 Functions of Insurance

 Benefits of Insurance

 Principles of Insurance

Adnan Malik & Karim Ullah. (2019).

Introduction to Takaful: Theory and Practice.

2 (11/Feb/2020)

A Brief history of Takaful (Insurance)

 Overview of history before AD (Greece, Roman, Middle Ages and post)

 Pre and Post Islam

 Colonial Era (Indonesia)

 Today Insurance & the development

1. Dr. H. Ending Solehudin. (2019).

Perbandingan Asuransi Syari'ah dan Konvensional

2. Novi Puspitasari. (2015) Manajamen Asuransi Syariah.

3 (18/Feb/2020)

Takaful & Risk Management

 The concept of risk

 Types of risk

 Techniques for managing risk

 Risk management in Islam

4 (25/Feb/2020)

The Sharia Perspective of Insurance

 The concept of insurance from the shariah perspective

 The concept of protection, investment, and expenses in insurance

 The generic insurance models

 The not permissible elements of insurance from sharia

5 (03/Mar/2020)

The Sharia Compliance of Takaful

 The Principles of takaful contract

 The key parties involved in Takaful

 Differences between Takaful &

Insurance

1. ISRA. (2015). Islamic Financial System:

Principles and Operations.

2. Adnan Malik & Karim Ullah. (2019).

6 (10/Mar/2020)

Tabarru' in Takaful

 Overview of Tabarru' concept

 The nature of tabarru' in takaful

Nurul Ichsan Hasan, MA. (2014). Pengantar Asuransi Syariah

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 The result implementation of tabarru' in takaful

7 (17/Mar/2020)

Takaful Business Models

 Overview takaful model (ta'awuni &

stakeholders)

 Wakalah Model

 Mudharabah Model

 Wakalah Waqf Model

8 Mid Competency Test (24/Mar/2020)

9 (31/Mar/2020)

Family Takaful

 Overview of Family Takaful

 Features of Family Takaful

 Family Takaful Products

10 (07/Apr/2020)

General Takaful

 Overview of General Takaful

 Features of General Takaful

 General Takaful Products

11 (14/Apr/2020)

Takaful Regulations

 Takaful Regulation (Indonesian Acts)

 Organization Forms

Course Notes, OJK Regulasi Asuransi Syariah, DSN MUI

12 (21/Apr/2020)

An Introduction to Re-Takaful

 Overview of Re-Takaful (Re- Insurance)

 Need for Re-Takaful

 Methods of Re-Takaful

2. John Wiley & Sons (Editorial). (2009).

Takaful Islamic Insurance: Concepts and Regulatory Issues.

13 (28/Apr/2020)

Re-Takaful Operations

 Basic Model of Re-Takaful

 Re-Takaful versus Re-Insurance

 Challenges in the Re-Takaful Industry

2. John Wiley & Sons (Editorial). (2009).

Takaful Islamic Insurance: Concepts and Regulatory Issues.

14 (05/May/2020)

Distribution Channels

 Overview of Takaful distribution channels used

 Traditional distribution channels

 Alternative distribution channels

15 (12/May/2020)

Takaful as Social Banking - Reimagining Model

 The strategic opportunity

S. Nazim Ali and Shariq Nisar. (2016). Takaful and Islamic Cooperative Finance: Challenges and Opportunities.

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Rules of class meeting:

1. A class will be managed by class leader, consists of a class leader and its deputy. They are selected democratically according to class members’ aggrement. The class leaders will get additional appreciation in terms of marks for respectively 10% and 7.5% out of normal marking arrangement above. Practically, they are responsible for several tasks:

a. Ensuring class attendance and venue b. Ensuring class assignment timely collected

c. Intermediating communicating between lecturer and students d. Assisting other related tasks concerning class if deemed necessary

2. Students are allowed to join class for tolerated maximum 15 minutes for late attendance;

otherwise, they are forbidden entering class.

3. Students who are absence due to getting sick and organizational activities must inform to the lecturer and class leader 2 hours before the class begin.

4. Strictly to join in every meeting, presentation, visiting scholar/ guest star and assignment.

5. Students who were absence for three consequtive weeks or accumulately has 3 unclear absence, are not allowed to join class for the entire semester .

SYLLABUS-PRINCIPLES-TAKAFUL-RE-TAKAFUL-IPIEF.pdf

SYLLABUS

FACULTY ECONOMIC AND BUSINESS

INTERNATIONAL PROGRAM FOR ISLAMIC ECONOMICS AND FINANCE (IPIEF)

The Course Outline

Meeting Topics References

Rules of class meeting:

a. Ensuring class attendance and venue b. Ensuring class assignment timely collected

c. Intermediating communicating between lecturer and students d. Assisting other related tasks concerning class if deemed necessary

2. Students are allowed to join class for tolerated maximum 15 minutes for late attendance;

otherwise, they are forbidden entering class.

3. Students who are absence due to getting sick and organizational activities must inform to the lecturer and class leader 2 hours before the class begin.

4. Strictly to join in every meeting, presentation, visiting scholar/ guest star and assignment.

5. Students who were absence for three consequtive weeks or accumulately has 3 unclear absence, are not allowed to join class for the entire semester .

6. Test examination and assignment results will be announced

7. Students who got D and E on his final marks, they have to repeat the course on the next academic year.

8. Cheating and any dishonest conduct will lead to dismissal 9. Grading System Batch 2017 and 2018

Grading and Weight Interval (%)

A A≥80

AB 75≤AB<80

B 65≤B<75

BC 60≤BC<65

C 50≤C<60

D 35≤D<50

E <35