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Process of Risk Analysis for SMEs Jul 2010

Presentation for Small-Medium size Enterprises

Outline :

  • Main Value Driver
  • Main Risk Drivers
  • Old Fashioned Business Model
  • New “Risk Smart” Business Model
  • Building blocks of Strategy/Value-driven SME Businesses

Why the reality must live up to the promise

Worldwide there are four variations of a basic system of Takaful, the Islamic alternative to conventional insurance. They all share markedly common elements:

  • Insureds make contributions (often called tabar’ru or donations) rather than pay premiums
  • The core philosophy is mutual assistance to needy members of the group (or ta’awun)
  • Risk-sharing among members (a form of joint indemnification) rather than risk transfer
  • Avoidance of elements prohibited in Islam such as al maisir (form of gambling), al gharar (uncertainty and deception) and al riba (interest or forbidden types of commercial gain)
  • Separation of ownership interests of policyholders (members) from shareholders
  • Use of Shari’ah compliant agreements in all activities – including investment of contributions and share capital

Prospects for Takaful Cover and Securitizations

Islamic Real Estate Finance Middle East 2005


  • Overview of Takaful (Islamic Insurance)
  • Overview of ABS
  • Dissecting the Risks in Securitization
  • Takaful Offerings and Responses
  • Prospects for Takaful Cover and Future Securitizations
  • Observations and Conclusions

Building and Protecting Islamic Wealth

Risk is everywhere around us. To live is to encounter “risk”

Risk is everywhere around us. To live is to encounter “risk” since we cannot know the future – even the next few minutes. Most people understand an uncertain future as “negative” and uncontrollable, yet others differ and so grasp that also there is “opportunity and promise” embedded in that risky future. From a typical downside perspective, risk points to “the possibility of loss occurring” which involves the probability (or likelihood) and the impact (or severity).


Money – cant live with it, cant live without it!

What does it mean to us?

  • Ubiquitous & Omnipotent
  • Neutral, objective yardstick
  • Highly charged, Emotional

Like food, water, air….we humans use Money everyday = we cant live without. Main driver of Economic conditions, Employment – Industry, aviation, education, healthcare, etc.The “oil” for the wheels of commerce.


Rediscovering takaful’s primary roots

Charter which provides detailed guidance.

The Charter of Medina, which was written as the first-ever social constitution in the Islamic world, contains lucid yet practical examples which, when gradually put into practice, evolved into takaful – 1,000 years before the advent of Lloyd’s of London. Dr Omar Fisher of Khidr Solutions Consultancy discusses excerpts of the Charter which provides detailed guidance on the philosophy of collective risk sharing and mutual assistance.

The Charter of Medina is a seminal document and forms a written constitution for societal structure amongst eight distinctive tribes residing in Yathrib (Medina) as at 622 CE. By mutual consent, these tribal groupings – and their individual members – subjugated their tribal privileges to a new collective presence called “ummah” or community, which then pledged to safe- guard specific community and individual rights and responsibilities.


Demystifying Surplus 2005

Heart or Soul of Takaful Insurance Transactions?

If the “heart” of any insurance transaction is the risk protec- tion element, then surplus can be labelled as the “soulful” element. While there does exist a savings element in some types of insurance, typically people enter into insurance transactions to share risk exposures and minimize personal losses.

The mechanism or model of how risk is mitigated determines the mode of insurance selected. Many purchas- ers of insurance seem indifferent to the mode (or model) of insurance on offer, either due to a lack of knowledge, or a preoccupation with procuring the end product itself, i.e. coverage protection. However, the mode of insurance cho- sen will determine many aspects of the relationship be- tween the insured person and the insurer that is accepting the risk, including a final disposition of surplus. This article will not address the many differences existing between con- ventional insurance and Takaful, but rather will assume that a Takaful mode of insurance applies.


Social Enterprise Networking

Social Enterprise Networking is how business gets done in 21st Century

What is the Goal ?

Leading organizations are always looking for better ways to improve collaboration, motivate and engage employees, improve customer and partner engagement, achieve high performance, manage innovation better, facilitate employees to learn and master new skills and adopt new tools quickly.Social enterprise networking is the right tool for our digital world.


The Sky is Falling

An Islamic View of the Global Credit Crisis

Since 2007, we have been living an economic and financial crisis that seems to be gathering enormity daily. If this long continuum can be viewed as one interconnected event, then actuaries could label this “a once-in-250-years event”, a term typically reserved for natural catastrophes of epic proportions. More simply, it seems as though our “sky is falling”. Yet there is no history that compares − even the Great Depression of the 1930s is not a valid benchmark − as contemporary events are not constrained to the United States, but spread across the globe.


The Great Train Wreck of 2008

No Of Pages : 21

  • What hit us?
  • What are the likely causes?
  • What is the impact on our current situation?
    • Financial
    • Economic
    • Social,
    • Personal
  • What options do we have now?