Islamic Insurance in Sudan ( Paper) - Presentations & Papers

Salah El Din Musa Mohamed Sulieman

Islamic Insurance in Sudan By Salah El Din Musa Mohamed Sulieman   September, 2013 Khartoum, Sudan  1-    Abstract This paper is intended to give an overview of how Islamic insurance was created and developed in Sudan. It will cover the regulatory and supervisory frameworks and governance of this type of insurance which came as an alternative to Conventional Insurance which is not acceptable from the Sharia’ point of view. The paper will shed light on the basic principles that differentiate Islamic Insurance from Conventional Insurance and some other issues such as capital, business model, accounting, reinsurance, investment and surplus. By...


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Islamic Insurance in Sudan - Presentations & Papers

Salah El Din Musa Mohamed Sulieman

Second GTG/ICMIF/IFTI Takaful Seminar 17th–18th February 2014, Khartoum, Sudan •First Islamic bank in Sudan (Faisal Islamic Bank, 1977) •Problem of insuring its assets and operations: commercial insurance companies didn’t comply with the Sharia’ principles and provisions. •Solution: The Sharia’ Supervisory Board of Faisal Islamic Bank (Sudan) established an insurance company on the basis of cooperative insurance which fully conforms with the principles and provisions of Sharia’: •The Islamic Insurance Company (est. 1978) became the first Islamic Insurance Company in the world.


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Islamic Insurance in sudan (1979-2017) - Presentations & Papers

Salah El Din Musa Mohamed Suleiman

INTRODUCTION v It is almost four decades by now since the establishment of the first ever Islamic insurance company in Sudan and the world.   v The company was established by Faisal Islamic Bank – Sudan, the first Islamic bank in Sudan in 1978 and started its operation on 1st January 1979 with the main objective of providing sharia' compliant insurance to the bank and its clients. v The success of the company since its early beginnings paved the way for the establishment of Islamic insurance companies and encouraged others , both locally and abroad, to follow. v Four other Islamic...


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Islamic Insurance in Sudan - Presentations & Papers

Salah El Din Musa Mohamed Sulieman Second GTG/ICMIF/IFTI Takaful Seminar 17th–18th February 2014, Khartoum, Sudan

•First Islamic bank in Sudan (Faisal Islamic Bank, 1977) •Problem of insuring its assets and operations: commercial insurance companies didn’t comply with the Sharia’ principles and provisions. •Solution: The Sharia’ Supervisory Board of Faisal Islamic Bank (Sudan) established an insurance company on the basis of cooperative insurance which fully conforms with the principles and provisions of Sharia’:


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How to start a Takaful Company - Presentations & Papers

Salah El Din Musa Mohamed Managing Director Shiekan Insurance and Reinsurance Company

How to set up a Takaful Company Policies, Procedures, Accounting…… Key Functions: -Legal and Regulatory Framework . -Management and Corporate Governance . -Technical Framework. - Investment.


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