Global: IFSB issues revised takaful risk management draft

Source: Middle East Insurance Review | Nov 2026

The Islamic Financial Services Board (IFSB) has issued an exposure draft proposing revisions to its risk management standard for takaful undertakings. This reflects developments in international insurance standards and Islamic finance regulation.

The proposed standard covers licensed family, general and composite takaful operators, including takaful windows and subsidiaries. It also addresses fund segregation, fiduciary responsibilities, financial soundness, Shariah non-compliance risk, internal controls and retakaful capacity. Retakaful undertakings, however, are excluded due to their distinct operational characteristics.

The draft also outlines supervisory risk assessments, intervention measures and regulatory requirements to strengthen oversight of takaful operations. M

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