GIG Group & BIBF in Strategic Partnership for Islamic Insurance (Takaful) Textbook

As part of its continuous endeavor to developing of human capital in the Insurance industry and enriching the Insurance library with a specialised and comprehensive reference in Islamic Insurance (Takaful), GIG Group, represented by three of its leading companies; GIG Takaful, GIG Bahrain and GIG Kuwait have signed a strategic partnership agreement to support the BIBF’s latest publication in Takaful: Technical and Operational Aspects.

With the aim of fostering the growth of Takaful sector in Bahrain, the textbook will provide a comprehensive reference to Takaful and its operations, under the title Takaful: Technical and Operational Aspects and will be a source of valuable teaching material and indispensable information on various technical and operational aspects of Takaful dealings in the region and worldwide.

The textbook solidifies Bahrain’s position as international Centre of Excellence in Islamic Finance and Islamic Insurance. The partnership was signed at the BIBF by the BIBF’s Director, Dr. Ahmed AbdulHameed Al Shaikh, and Mr. Essam AlAnsari, the CEO of GIG Takaful and Dr. Abdulla Sultan, the CEO of GIG Bahrain.

The BIBF’s Director, Dr. Al Shaikh stated, “The Islamic Insurance industry has witnessed continuous growth in the Kingdom in the past few years, especially being one of the first countries to establish specific Takaful regulations and has one of the highest levels of takaful penetration across the Region. Therefore, this timely textbook offers crucial background information and advice, invaluable for any serious player in the Takaful market.”

The CEO of GIG Bahrain, Dr. Abdulla Sultan stated, “This sponsorship is a testament of GIG’s leadership in the Insurance market in the MENA region, not only in terms of size but also in terms of the contribution to the intellectual development of the industry at large. We are proud to partner with the BIBF which is the leading authority on Insurance Training in the region and we look forward to seeing trainees benefit from this publication.”

On his part Mr. Essam AlAnsari, CEO of GIG Takaful stated, “In our quest for growth, GIG Takaful continues to lead the way in providing a 360-degree holistic solution that represents our vision and commitment to the principles of service, integrity and professionalism while providing our valued clients the highest quality of service with the goal of exceeding their expectations.”

The textbook will be published internationally. Additionally, it will be used as the main textbook for one of the four modules of the Certified Islamic Insurance Practitioner (CIIP). This designation is a BIBF’s bespoke certification in Islamic Insurance designed utilising BIBF’s expert knowledge in Islamic Finance and Insurance.

The BIBF has been at the forefront of training and development in the Islamic finance and the Insurance industries, having established professional qualifications in both Islamic finance and Insurance fostering the growth of these sectors in the Kingdom, throughout the Middle East and also on a global scale. The Institute has a global footprint, having trained in more than 64 countries worldwide and has a robust menu of training offerings in various business aspects.