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2. 2 Muhammad Zubair Mughal Chief Executive Officer AlHuda : Centre of Islamic Banking & Economics Takaful (Islamic Insurance ) 5 th June, 2015 – Manila, Philippines.

3.  General & Faimly Takaful Types  Takaful - Target Market  Challenges to Takaful  Prospects of Takaful in Senegal

4.  General Takaful – offers all kinds of non- life risk coverage. It is normally divided into following classes:  Property Takaful  Marine Takaful  Motor Takaful  Miscellaneous Takaful

5.  Term Life Takaful  Whole Life Takaful  Endowment Takaful  Universal Takaful  Marriage Plan   Education Plan

6.  People who do not insure due to religious reasons.  People who insure and are insensitive to religious reasons.  People who currently do not insure at all.

7. Takaful

8. Participants Pool of Contributions Participants Contribution

9. Participants Participants Contribution Pool of Contributions Investment in Shariah Complaint Avenues Profit from Investment (Part of the profit goes to the Company for acting as mudarib)

10. Participants Participants Contribution Pool of Contributions Wakala Fee ClaimsRe-Takaful Expense etc. Investment in Shariah Complaint Securities Profit from Investment (Part of the profit goes to the Company for acting as mudarib)

11. Participants Participants Contribution Pool of Contributions Wakala Fee ClaimsRe-Takaful Expense etc. Investment in Shariah Complaint Securities Profit from Investment (Part of the profit goes to the Company for acting as mudarib)

12. Participants Participants Contribution Pool of Contributions Wakala fee, Claims, Re-Takaful Expenses SURPLUS Investment in Shariah Complaint Securities Profit from Investment (Part of the profit goes to the Company for acting as mudarib )

13. Participants Participants Contribution Pool of Contributions Wakala fee, Claims, Re-Takaful Expenses SURPLUS Investment in Shariah Complaint Securities Profit from Investment (Part of the profit goes to the Company for acting as mudarib)

14. Participants Participants Contribution Pool of Contributions SURPLUS Contingency Reserve CharityDistribute Among Participants Wakala fee, Claims, Re-Takaful Expenses Investment in Shariah Complaint Securities Profit from Investment (Part of the profit goes to the Company for acting as mudarib)

15. Participants Participants Contribution Pool of Contributions Contingency Reserve CharityDistribute Among Participants SURPLUS Wakala fee, Claims, Re-Takaful Expenses Investment in Shariah Complaint Securities Profit from Investment (Part of the profit goes to the Company for acting as mudarib)

16. Participants Participants Contribution Pool of Contributions Contingency Reserve Charity Distribute Among Participants SURPLUS Wakala fee, Claims, Re-Takaful Expenses Investment in Shariah Complaint Securities Profit from Investment (Part of the profit goes to the Company for acting as mudarib)

17. Participants Participants Contribution Pool of Contributions SURPLUS Contingency Reserve CharityDistribute Among Participants Wakala Fee ClaimsRe-Takaful Expense etc. Investment in Shariah Complaint Securities Profit from Investment (Part of the profit goes to the Company for acting as mudarib) ++ - =

18. Investment Income Operational Cost of Takaful / ReTakaful Claims & ReservesSurplus (Balance) P A R T I C I P A N T S’ T A K A F U L F U N D (P.T.F.) Admin Expenses, Employee’s etc. Wakalah Fee Investmen t Income Management Expense of the Company Profit/Loss S H A R E H O L D E R S’ F U N D (S.H.F.) Participant WAQF Takaful Operator Share Holder Wakala-Waqf Model Investment by the Company

19.  Skepticism.  Lack of uniformity in Models & Shariah decisions.  Regulatory issues.  Capacity constraints.  Limited Investment avenues.  H.R. issues.

20.  Good Muslim Population  A Benchmark for Regional Countries  Islamic Financial Hub for West African Countries  Strengthened Islamic Banking and Finance Industry  Attract Foreign Direct Investment ( FDI )  MicroTakaful for Poverty Alleviation and Social Development