The Ernst & Young World Takaful Report 2012 to be Launched on the 16th of April

2012 edition of the report titled “Industry Growth and Preparing for Regulatory Change” to be exclusively launched at a special plenary session of the 7th Annual World Takaful Conference (WTC 2012) in Dubai

Dubai, United Arab Emirates: 10 April 2012: The World Takaful Report 2012, developed in collaboration with leading international advisory firm Ernst & Young, will be officially launched on the 16th of April 2012 at the 7th Annual World Takaful Conference (WTC 2012) which will held in Dusit Thani, Dubai. The Ernst & Young World Takaful Report, a ground-breaking initiative designed to not only identify but also to raise the bar of competitive excellence, strategic leadership and performance improvement in the global Islamic insurance industry, now in its 5th annual edition, will analyze key strategies that leading Takaful institutions must deploy in order to ensure continued growth as the globalIslamic insurance industry enters its next phase of market development.

Speaking ahead of the launch of the report, David McLean,Chief Executive of the World Takaful Conference said that “the Takaful industry has witnessed significant internationalization in the last decade with the industry rapidly expanding its footprint beyond the traditional high-growthmarkets of the GCC and Malaysia. A number of newjurisdictions have modified their legal and regulatory frameworks and issued new guidelines in order to support the growing demand for Takaful products in their domestic markets. Though the overall outlook for the global Takaful industry remains positive, it is essential that the mounting challenges posed by increasing competition not only among Takaful operators but also from conventional players entering the Takaful market space, declining underwriting profits and investment portfolios need to be immediately tackled so that the industry can maintain its current growth levels and hit theprojected US$ 25 bn mark by 2015.”

This year’s eagerly anticipated report, which has over the past 5 years evolved into an indispensable reference resource for the key decision-makers in the international Takaful industry, will be exclusively launched onsite at a special plenary session of WTC 2012. The Report titled “Industry Growth and Preparing for Regulatory Change” will be presented by Ashar Nazim, Islamic Financial Services Leader, Ernst & Young; and Abid Shakeel, Banking & Takaful Leader – Islamic Financial Services Advisory, Ernst & Young.

Co-located with the 2nd Annual Middle East Islamic Finance and Investment Conference, the 7th Annual World Takaful Conference, which will be held on the 16th and 17th of April in Dubai, will see more than 350 industry leaders and key decision-makers in the international Islamic insuranceindustry engage in critical discussions that will seek to capitalise on new opportunities and chart the future direction of the global Shari’ah-compliant insurance market.