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Course Description

1 Module 1 Video

This session aims to address questions an investor unfamiliar to takaful could have in evaluating a takaful venture. 
Among these are:

  • What is takaful?
  • How does takaful compare to insurance?
  • What are the takaful operational models commonly used in Malaysia against those around the world?
  • How would the cash flows of takaful compare to those of insurance?
  • What are some of the challenges and opportunities of takaful as a business investment?


Nurul Syuhada Nurazmi 
is among the first in Malaysia to qualify as a Fellow of the Casualty Actuarial Society (FCAS). Her expertise in general (re)insurance and (re)takaful ranges from Appointed Actuary and Pricing Actuary roles in valuation and pricing respectively, to due diligence work on M&A as well as feasibility studies on set-up of takaful operations. She has also conducted independent assessments of ICAAP and ITCL, and provided independent reserves adequacy and valuation processes. On IFRS 17, her work involves cash flow modelling and financial impact study, as well as conducting trainings and workshops on IFRS 17.

Ema Zaghlol joined Actuarial Partners in 2009. She graduated from the London School of Economics (UK) and is presently pursuing her final paper under the Institute and Faculty of Actuaries, UK. Her consulting experience has mainly been in the valuation of actuarial liabilities for general (re)insurance and (re)takaful companies and the pricing of Medical products in Malaysia. She also has extensive experience in appraisal valuations and due diligence exercises of numerous insurance and takaful companies (both within and outside of Malaysia). More recently, she has been involved in IFRS 17 related projects, including the development of fulfillment cash flow models for general insurance and co-speakng at an IFRS 17 workshop in Thailand.

Course Curriculum

Module 1