We think you have liked this presentation. If you wish to download it, please recommend it to your friends in any social system. Share buttons are a little bit lower. Thank you!
Presentation is loading. Please wait.
Published byAmy Storm
Modified about 1 year ago
British Islamic Insurance Holdings BIIH 1 November 2007Strictly Confidential – © British Islamic Insurance Holdings Ltd 2007 1 British Islamic Insurance Holdings Takaful Summit 1 November 2007
British Islamic Insurance Holdings BIIH 1 November 2007Strictly Confidential – © British Islamic Insurance Holdings Ltd 2007 2 INTRODUCTION The UK’s First Dedicated, Standalone Takaful Insurer Who is BIIH? British Islamic Insurance Holdings Ltd Currently seeking authorisation from UK FSA for a general insurer and an intermediary Intention to offer personal lines, SME, savings and protection, others Planning to launch H1-2008 Capital predominantly from GCC Initially UK focussed… later Europe, GCC, Asia
British Islamic Insurance Holdings BIIH 1 November 2007Strictly Confidential – © British Islamic Insurance Holdings Ltd 2007 3 MARKET OPPORTUNITY > 15 million Muslims in Europe > 2 million UK Muslims 70% < 35 years of age > 500,000 Muslim-owned cars > 400,000 Muslim homes > 100,000 Muslim-owned businesses A Sizeable UK Market Segment
British Islamic Insurance Holdings BIIH 1 November 2007Strictly Confidential – © British Islamic Insurance Holdings Ltd 2007 4 POPULATION DENSITY > 70% UK Muslim population live in 723 postcode sectors London, Birmingham, East Midlands Lancashire (Blackburn, Burnley) Yorkshire (Leeds, Bradford) Scotland (Glasgow) Population Density Means Ability To Concentrate Marketing, Offset By Insurance Risk Concentration
British Islamic Insurance Holdings BIIH 1 November 2007Strictly Confidential – © British Islamic Insurance Holdings Ltd 2007 5 BUSINESS MODEL Sales Channels MotorHomeownersSavingsHealth?Pension?CommercialMortgages?Protection BIIH Insurer BIIH Intermediary Other Companies Private Customers Businesses Creation of a Muslim Focused FS Affinity Marketer
British Islamic Insurance Holdings BIIH 1 November 2007Strictly Confidential – © British Islamic Insurance Holdings Ltd 2007 6 RESEARCH The majority of the Muslim respondents have bought halal food, and always seek out halal products where possible Which of the following best describes how often you buy halal products?
British Islamic Insurance Holdings BIIH 1 November 2007Strictly Confidential – © British Islamic Insurance Holdings Ltd 2007 Only 9% of Muslim respondents have heard of Takaful: 7 RESEARCH Base: All Muslims interviewed
British Islamic Insurance Holdings BIIH 1 November 2007Strictly Confidential – © British Islamic Insurance Holdings Ltd 2007 8 RESEARCH How likely would you be to buy a halal insurance product if it were:
British Islamic Insurance Holdings BIIH 1 November 2007Strictly Confidential – © British Islamic Insurance Holdings Ltd 2007 CHALLENGES 9 KNOWLEDGE: Fewer than 10% of Muslims recognise/understand Takaful, or even Islamic Finance HISTORY: History of Islamic Finance in the UK has few successful role models CYNICISM: Research indicates that consumers are sceptical about “Islamic Finance” and its “true” Shariah compliance COST: Past experience indicates Islamic products are more expensive than conventional (Haram) product
British Islamic Insurance Holdings BIIH 1 November 2007Strictly Confidential – © British Islamic Insurance Holdings Ltd 2007 THE FUTURE 10 Clearly a market … but is it achievable? Key challenges…. Competitive product (price and benefits) Education, education, education Transition of Islamic finance products to non-Muslim consumers Increased supply of Islamic financial services, stimulating knowledge and demand Further development of more products founded on Islamic principles The Most Exciting FS Marketing Opportunity in UK
Islamic Banking Developments in the Domestic UK Market Presented by: Keith Leach Head of alburaq ABC International Bank plc.
Birmingham as a second city for Islamic Business: The Way Forward Panel Presentation Sultan Choudhury - Commercial Director Aston Business School 2 nd.
Prospects for Islamic Financial Services and Products Mahomed Faizal Dawjee Global Takaful Summit London 1 November 2007.
Permission to reprint or distribute any content from this presentation requires the prior written approval of Standard & Poor’s. Copyright (c) 2006 Standard.
BancaTakaful in Pakistan 4th International Conf. & Exhibition Lahore – Nov Azeem Pirani Regional Manager – Pakistan FWU AG.
Terminologies Takaful 101 Takaful Process Key Features of a Takaful Model Need for Takaful Insurance Geographical Spread of Takaful Business Current Market.
Topic By “Author” Sub heading – describing topic Islamic Life Insurance The World of Takaful By Shivash Bhagaloo.
Assessing the growth of Islamic equity funds Suhail Arain Investment Director Scottish Widows Investment Partnership.
Islamic Retail Finance in North America A Discussion Outline for the Working Group on Islamic Retail Finance at Harvard University March 19, 2005 Yusuf.
We are dedicated first and foremost to saving you money. Secondly – to providing correct and up to date financial guidance that is unbiased and informative.
Islamic Liquidity Management Issues Institute of Islamic Banking & Insurance, London, 18 February 2004 Warren Edwardes Islamic Liquidity Institute of.
Marketing Essentials Chapter 5. Our nation is built upon freedom ◦ Freedom What to purchase Where to work How to spend our money To organize.
Global Edition Chapter 1 Analyzing the Marketing Environment.
Takaful and Mutual Insurance Business Challenges in Mutual Insurance and Takaful Serap Gonulal November 13, 2012.
Lesson 2. Developing a Marketing Plan Next Generation Science / Common Core Standards Addressed! RST.11 ‐ 12.7 Integrate and evaluate multiple sources.
Islamic Asset Management Presented at: INAUGURAL SEMINAR & DINNER El Shaarani Centre for Islamic Finance and Business At Aston Business School Birmingham,
THE MARKETING ENVIRONMENT Chapter 4 Kotler, Bowen, Makens and Baloglu Marketing for Hospitality and Tourism.
Public Relations Role in Promoting Islamic Product Globally: Malaysian Experiences Public Relations Role in Promoting Islamic Product Globally: Malaysian.
1 CHAPTER 4 T A K A F U L Opportunities & Challenges.
1 Finance & Insurance - In the world of leisure Tony Clish Sales & Marketing Director Park Holidays UK.
Islamic Liquidity Management Issues ISLAMIC BANKING AND FINANCE Lebanese American University, School of Business, Irwin Hall, Beirut, Lebanon February.
FINANCIAL SERVICE PROVIDERS Bank : A business that sells services such as savings accounts, loans, and investments Regulated more strictly than most other.
Islamic Finance in Europe Professor Rodney Wilson Banca d’Italia Seminar on Islamic Finance Rome, November 11 th 2009.
Marketing Foundations What is Marketing? What is the goal of Marketing?
Marketing In Today’s World Freshman Seminar - Introduction to Business Dr. Hays Freshman Seminar - Introduction to Business Dr. Hays.
Market-Oriented Economic Systems The Free Enterprise System.
Finance (Basic) Ludek Benada Department of Finance Office 533
Personal Selling & Sales Management Sales Force: Kendall Aragon, Betty Diaz, Mariam Ahmed, Noreen Rashid, Gurpreet Dhami, Bruna Ludke, Doaa Borie.
The Malaysian Islamic Capital Market. Learning objectives 1.Describe the salient features of an Islamic financial market. 2.Describe various methods of.
Shariah-Compliant Make Yourself Why is Shariah-Compliance Important? Our lifelong objective is to seek the pleasure of Creator ‘Islam’ is a complete.
Professor Kudek. Choose a product(s) from your Fortune 500 company. Answer the following questions in a two-page paper (no need for cover page) 1. What.
21 – 22 September 2006, Kuala Lumpur Globalisation and the experience of proximity banking Dato’ Abdul Azim Mohd Zabidi Chairman, Bank Simpanan Nasional,
Chapter Eight Global Market Participation. Copyright © Houghton Mifflin Company. All rights reserved.Chapter 8 | Slide 2 Evaluating National Markets Where.
DEVELOPING THE MENA INSURANCE SECTOR – ECONOMETRIC AND ANECDOTAL INDICATORS RODNEY LESTER WORLD BANK CONSULTANT.
Personal Selling. u Personal communication of information to persuade consumers to buy the product or service u Personal selling is preferred when –market.
Strictly Private and Confidential Investment Funds Conference Qatar, 27 November 2007 Islamic Funds – Landscape and Evolution Geert Bossuyt Managing Director,
1 Unit Linked Products Yannis Vasilatos November 2013.
CHAPTER 5 The Free Enterprise System. SECTION 5.1 MARKET ORIENTED ECONOMIC SYSTEMS Objectives Explain the characteristics of a free enterprise system.
Jacobs and Associates Growth, Flexibility and Protection: The Results of Regulatory Reform in OECD Countries Scott H. Jacobs Jacobs and Associates, An.
Marketing. What is Marketing? In your own words, describe what marketing is.
Presented By- Group No_04 Ankita Chandwani-09 Jaydeep Satam-47 Yogesh More - 32.
Company Name Business Plan. Business Concept Clearly state your company’s long-term mission. –Try to use words that will help direct the growth of your.
The Free Enterprise System. Traits of Private Enterprise.
Wouter Schuitemaker Investment Director businessbirmingham.com.
KLCC, Kuala Lumpur Presentation by: Fazal Bahardeen Copyright © 2011 CRESCENTRATING PTE LTD. | ALL RIGHTS RESERVED 4 th April th World Halal Forum.
The Marketing Environment 3 Principles of Marketing.
Marketing Heritage Tourism. Understanding Marketing Marketing is the process of communicating the value of a product or service to customers, for the.
FINANCIAL DECISIONS AND GOALS. What is Personal Finance? EVERYTHING IN YOUR LIFE THAT INVOLVES MONEY Spend Save Invest Live comfortably Financial security.
© 2017 SlidePlayer.com Inc. All rights reserved.