1. NAME OF COURSE  / MODULE PRINCIPLES AND PRACTICES OF TAKAFUL
2. COURSE CODE MBC4013
3. NAME(S) OF ACADEMIC STAFF  
4. RATIONALE FOR THE INCLUSION OF THE COURSE/MODULE IN THE PROGRAMME This course is developed as an exposure for students to Takaful industry. In addition, this course provides a platform of understanding and practical activities (skills) that are applied in the Takaful business. As a results, student will be exposed

to the actual procedure, problem solving and decision making decision in Takaful business.

5. SEMESTER & YEAR OFFERED Semester 6 / Year 3
6. TOTAL STUDENT LEARNING TIME (SLT) Face to face:

L T P O
28 26  – 5

L=lecture ; T=Tutorial; P=Practical; O=Others (Exam)

Total Guided and Independent Learning:

120
7. CREDIT VALUE 120/40 = 3.00 (3 credit); 2+2
8. PREREQUISITE (IF ANY) NIL
9. OBJECTIVES 1.  To provide student with basic overview, key concepts and theories of takaful.

2.  To identify the takaful business models and products.

10. LEARNING OUTCOMES At the end of the course, learners will be able to:

1. Explain the basic theories and principles of Takaful. (LO1-C2)

2. Collaborate with team members to identify the takaful business models and products. (LO5-TS3; LO8-ES1)

3. Verbally communicate with peers and lecturer on the project assignment. (LO4-CS3)

11. TRANSFERABLE SKILLS Student should be able to develop a good understanding of background of principle of takaful, its operation and related aspects to takaful industry through a process of lectures, tutorial and group assignment.
12. TEACHING-LEARNING AND ASSESSMENT STRATEGY Teaching-learning strategy:

  • The course will be taught through a combination of formal lectures, exercise, group work, using authentic materials, informal activities and various textbooks. Collaborative teamwork will be fosters throughout the course. The use of examination and internal reporting assessment will assess the student’s ability to apply theoretical concept in context.

Assessment strategy:

  • Formative
  • Summative
13. SYNOPSIS This course exposed the students to the current practice of Takaful industry. In addition, this course provides a platform of understanding and practical activities (skills) that are applied in the takaful business. As a results, student will be exposed to the actual procedure, problem solving and decision making decision in takaful business.
14. MODE OF DELIVERY Lectures and tutorial (SCL)
15. ASSESSMENT METHODS AND TYPES
Component %
Continuous Assessment 50
Final examination 50
Total 100
16. CONTENT OUTLINE OF THE COURSE/MODULE AND SLT PER TOPIC
TOPIC Lecture Tutorial Test/Quiz/Exam Assignment Assessment (Library Search) Self-study Total
Understanding Of Takaful Business Model 6 6 9 21
Takaful Products: Models And Operations 8 7 12 27
Accounting, Reporting And Governance of Takaful Activities 8 7 12 27
Risk Management Techniques And Tools 6 6 9 21
Continuous Test/Quiz/Assessment 2 6 4 12
FINAL 3 9 12
TOTAL 28 26 5 6 13 42 120
17. REFERENCES Main reference:

1. Alhabshi, Syed Othman, Sharif, Kamaruddin, Razak, Shaikh Hamzah Abdul, & Ismail, Ezamshah. (2012). Takaful: Realities & Challenges. Kuala Lumpur: INCEIF.

Additional references:

 1. Asyraf Wajdi Dusuki, & Nurdianawati Irwani Abdullah. (2009). Takaful: Philosophy, Legitimacy and Operation. In Humayon A. Dar & Umar F. Moghul (Eds.), The Chancellor Guide to the Legal and Shari’a Aspects of Islamic Finance (pp. 285-312). London: Chancellor Publications Limited.

2.  Engku Rabiah Adawiah Engku Ali, & Odierno, Hassan Scott P. (2008). Essential Guide to Takaful (Islamic Insurance). Kuala Lumpur: CERT Publications.

3. Mohd  Ma’sum  Billah.  2001.  Principles and Practices of Takaful and Insurance Compared. First Edition. IIUM Press

4. Mohd. Ma’sum Billah. (2003). Islamic and Modern Insurance. Petaling Jaya: Ilmiah Publishers.

5. Manual of Principles and Practices of Takaful & Re-Takaful. Department of Business Administration, Kuliah Economics &Management Sciences. IIUM.

6.  BIMB Institute of Research and Training Sdn. Bhd. 1996. Takaful (Islamic Insurance) Concept & Operational System: From The Practitioner’s Perspective. BIRT