Plugging more deeply into global financial services, achieving a greater degree of standardisation and being more innovative in product and service offerings, will be key challenges for Islamic finance, according to several speakers at the 3rd Islamic Financial Services Board (IFSB) Summit in Beirut in May. The conference was attended by some 200 central bankers and Islamic finance leaders, held under the patronage of Mr Fuad Siniora, President of the Council of Ministers, Lebanon, and hosted by Banque du Liban.
The global takaful market is on a roll and growing very strongly. Estimates of the size of the market vary from US$1.5 billion to US$2 billion, while those for the number of players range from 60 to 80, with more than 20 windows. MiddleEast Insurance Review presents this special article, reserved for this inaugural edition, that carries insights from several established takaful players in the world who gathered at the successful Asian Takaful Conference in Singapore in March.