Manama (UNA) – The General Council for Islamic Banks and Financial Institutions, in cooperation with the World Federation of Islamic Takaful and Insurance Companies, held a meeting yesterday, Monday. 6 July 2026, A virtual seminar titled “Enhancing the Role of Takaful in Addressing Emerging Global Risks” was held, featuring a select group of leaders from Takaful and Re-Takaful institutions, regulatory bodies, practitioners, and industry experts. This seminar comes at a time when such dialogue platforms are becoming increasingly important, serving as a pivotal tool for keeping pace with the rapidly changing global landscape and enabling the Takaful industry to assess challenges and translate theoretical discussions into practical initiatives that contribute to the sector's stability and sustainable growth.
The symposium represented a qualitative step in the path of institutional cooperation between the two institutions, and at the same time confirmed that the strength of the Takaful industry lies in its ability to unite efforts among the various stakeholders, from institutions and regulatory bodies to experts, to formulate a collective vision for the future of this promising sector.
The seminar was opened by Professor Hamza Bawazir, Secretary General of the General Council, who welcomed the participants and praised the existing cooperation between the General Council and the World Federation of Takaful and Islamic Insurance Companies in organizing this seminar. He said: “In light of the rapid developments in global risks, the Takaful industry has unique opportunities to provide practical and ethical protection solutions capable of enhancing resilience. Through this type of initiative, the General Council continues its commitment to promoting dialogue and knowledge exchange in support of the sustainable growth of the industry.”
This was followed by a speech from Professor Reda Amin Dahbour, Chairman of the Board of Directors of the World Federation of Takaful and Islamic Insurance Companies and a member of the Board of Directors of the General Council, who stressed the importance of joint work in supporting the development of the industry, and said: “Strengthening cooperation between the various stakeholders in the sector is a fundamental pillar for enhancing market resilience, expanding the scope of Takaful solutions, and responding to emerging challenges. The symposium represents an important platform for exchanging visions and strengthening cooperation between the various players in the industry.”
At the conclusion of the opening session, Dr. Mohammed Al-Hajj, Secretary General of the World Federation of Takaful and Islamic Insurance Companies, expressed his appreciation to the General Council, the speakers, and the participants, saying: “Constructive dialogue and the exchange of practical experiences are essential elements in strengthening the Takaful industry and enhancing its readiness to face future risks. Such discussions also contribute to a deeper understanding of the opportunities and challenges facing the sector. We value the ongoing cooperation with the General Council.”
The seminar featured a panel discussion moderated by Professor Rashid Al-Taie, Assistant Director of Operations and Strategic Planning at the General Council, with the participation of: Dr. Muhammad Anwar Qaddoum, an expert and strategist in Takaful and Re-Takaful, Chairman of several Sharia Supervisory Boards, and Founding Partner of Payday Takaful Company; Professor Nabil Al-Kasrawi, Founder and CEO of Findef Consulting Company; and Dr. Khawla Al-Nubani, a consultant specializing in Islamic banking, Sukuk and Takaful, an appointed member of the International Islamic Fiqh Academy, and a member of the Board of Directors of the Islamic Bank of Jordan, the Islamic Insurance Company, and the Arab Thought Forum.
The session addressed in depth the impact of emerging global risks on insurance and takaful markets, and the pivotal role that the takaful industry can play in enhancing resilience and bridging protection gaps, along with the most prominent issues related to governance, regulatory frameworks, innovation, sustainability, and Sharia aspects that shape the future of the industry.
The speakers agreed that continuing to organize such specialized events has become a strategic necessity, not just a supplementary option, because it provides a real opportunity for the exchange of ideas between decision-makers, experts and practitioners, and for building a common knowledge base that contributes to enhancing the sector’s readiness to face risks that are no longer remotely possible.
The symposium concluded with an interactive discussion that reaffirmed the shared commitment of both the General Council and the World Federation of Takaful and Islamic Insurance Companies to continue supporting the development of the Takaful sector globally. This support will be demonstrated through the continued organization of such dialogue platforms, which have proven effective as a key tool for raising awareness and building consensus among various industry stakeholders. Both sides emphasized that the symposium's outcomes will serve as a launchpad for several upcoming initiatives aimed at developing the Takaful industry and ensuring its alignment with global developments.
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