24 Jan, 2023
The Islamic Development Bank Institute (IsDBI) organized an executive training workshop for Jaiz Takaful Limited in Nigeria to develop the knowledge and skills of the company’s professionals in the operations of the Takaful industry.
Held in Nigeria’s capital Abuja from 17–19 January 2023, the workshop focused on the key techniques and success factors of Takaful management, different models, products, and modes of finance needed to make profits in the Takaful industry.
The workshop was built around a comprehensive framework for different types of family Takaful. In this framework, various case studies from member countries and Takaful companies show how government policies and national financial structures affect Takaful’s work.
Twenty-four participants joined the workshop from different departments of Jaiz Takaful, including members of the senior management and heads of departments. Two experts from the Takaful industry, Mr. Mohammad Rizwan and Prof. Tajudeen Olalekan Yusuf, led the training sessions.
Mr. Rizwan is the Director and Founding Chairman of Dawood Family Takaful Ltd. He is involved in setting up new financial institutions including an Islamic bank, a family Takaful company, and mutual funds. Prof. Yusuf is the Deputy Director of the School of Foundation Studies, University of Lagos, and the Chairman of the Institute of Islamic Finance Professionals, Nigeria (FIFP).
In his opening speech, Mr. Ibrahim Shehu, the Managing Director of Jaiz Takaful, thanked IsDBI for helping to organize the workshop, which he said was a good way for Jaiz Takaful and other Nigerian professionals in the sector to learn more about the Takaful industry.
Mr. Garba Abubakar, a board member of Jaiz Takaful, noted that the support of IsDBI in developing capacity-building solutions related to accessing financial services is critical, especially given Jaiz Takaful’s vision to expand and acquire a large portion of the Takaful business in Nigeria.
The IsDBI Knowledge Leaders Team collaborated with the IsDB Regional Hub in Abuja to plan and manage the successful implementation of the training workshop.