National Bank of the Republic of Tajikistan hosts takaful seminar with Islamic Financial Services Board experts

The National Bank of the Republic of Tajikistan hosted a training seminar on Islamic insurance, or takaful, with international experts from the Islamic Financial Services Board. The event was positioned as a stakeholder forum to introduce takaful to Tajikistan’s insurance market and to strengthen the knowledge and professional skills of specialists across the country’s financial system. Participants included staff from the central bank, insurance companies, financial credit institutions, audit firms and other relevant ministries and agencies. Presentations covered the core concepts and structure of takaful, how it differs from conventional insurance, risk management, the avoidance of uncertainty in financial transactions, financing approaches, global operating models, regulatory requirements and the need to apply accepted standards throughout operations. The seminar also addressed the potential benefits of takaful for different social groups, the allocation of funds and obligations, the legal and regulatory basis for takaful activity, and ways to expand public-private cooperation in developing Microtakaful.