Jul 13 2011
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Takaful and Retakaful Leaders Lauded at London Gathering
13 July 2011 - Today saw the end of a 3 day extravaganza for the Takaful Industry in London. The 5th International Takaful Summit ended with a bang at the Conservative Party's elite, Carlton Club. The highlight of the various proceedings was the Takaful Leadership Awards that were held on Tuesday. This evening saw two great pioneers awarded the prestigious Leader of the year Awards at the Gala awards ceremony, which was attended by 200 major industry players from around the Takaful world.
Mr Sameeul Thanvi of Bank Aljazeera has worked tirelessly in running the largest Takaful Company in the world, proving his abilities time and again in a harsh economic climate. His leadership style is a simple one: team work and prioritising employee integration. Accepting the award for Takaful Leader of the year he stated 'It is all about positive influence...'
The winner of Re-Takaful Leader of the year, Mahmood Akoob of Hannover Retakaful, strongly believes in developing the Islamic Finance Industry in general and Takaful and Retakaful in particular. His focus has always been customer service and tailoring products to service client needs. Accepting the award he stated, '
Istishar iQ and Afkar, organisers of the event, decided to break away from tradition this year: making their awards by region. Practitioners in the Middle East and Asia regions showed special prominence, picking up awards in each category. The Africa and Europe regions showed significant growth too. Etiqa, winner of Best Takaful Company, Asia has set a record by being the first Malaysian Takaful company to break through the 2 Billion Ringgit mark.
Best Re particularly stood out for the Africa region, winning the award for Best Retakaful Company, Africa. Best Re was the first company in the world to establish services for Retakaful and has now turned its eyes towards Asia, increasing the competition for takaful companies already operating in the region. They said:
Middle Eastern companies showed the greatest talent, getting a maximum number of awards. Ernst & Young showed special promise by winning the award for Best Advisory Company, Middle East. Whilst accepting the award, Ashar Nazeem, MENA head of Islamic Financial Services stated, "Ernst & Young's Islamic Financial Services Group is deeply honored by this recognition. We take immense pride in our research on Takaful, Islamic Funds and Waqf, which have become the standard reference points for the Islamic finance industry. The industry is expected to continue to show resilience in the face of a challenging economic scenario. This is despite the fact that the growth levels of the Islamic finance industry, which has seen more than 20 % per annum for the past several years, came under tremendous pressure in the last two years."
The Awards for Best Law Firm and Best Ratings agency went to Norton Rose and Standard & Poor's respectively. This, of course, came as no surprise as both organisations have shown sustained ability over the years.
Mohaned Abdullah, CEO of Istishar IQ talked of the importance of such awards in the industry, especially in the last two years when the economic climate has been so difficult. He said, 'We received an overwhelming number of nominations this year and thought it was only fair to make the awards by region, allowing for the outstanding contribution of Takaful practitioners to be recognised. Even in this economic scenario the industry has shown resilience and excellence.'
The summit comprised of a Masterclass held at the prestigious London offices of Norton Rose and was preceded by a 2 day conference, interjected by the presenting of the Leadership Awards and culminating in the exclusive Carlton Club soiree. Over 350 delegates attended the summit over the duration of the event and the response was overwhelmingly positive. 'This Summit was a great success on every level' commented Iqbal Asaria CBE, Managing Director of Afkar Consulting, 'We sincerely look forward to making next year an even greater gathering with a few new initiatives being announced in the weeks and months ahead'
List of Awards winners:
Takaful Leader of the year Sameeul Haq Thanvi
Re-Takaful Leader of the year Mahomed Akoob
Best Re-Takaful Company
Best Advisory Firm Ernst and Young
Best Bancatakaful Abu Dhabi National Takaful
Best Marketing Noor Takaful
Best Takaful Company Etiqa
Best Asset Management House CIMB Principal Islamic Asset Management
Best Advisory Firm Sidat Hyder
Best Bancatakaful Etiqa
Best Marketing Takaful Ikhlas
Best Re-Takaful Company Best Re
Europe & North America
Best Re-Takaful Company
Best Advisory KPMG
Best Technology Provider 3i Infotech
Best Broker AonBenfield
Best Law Firm Norton Rose
Best Ratings Agency Standard & Poors
5th International Takaful
Dar Al Takaful
CIMB Principal Islamic Asset Management
Standard & Poors
Ernst & Young
© Press Release 2011
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