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Name: |
Oussama A Kaissi
General manager Abu Dhabi National Takaful Company Abu Dhabi, UAE 43 Lebanese/American |
Could you provide a brief journey of how you arrived where you are today? After that, I moved to Bahrain in 1997 to work with ARIG, assuming the posts of regional general manager business partners and head of the technical division at ARIG Bahrain, held the post of general manager of ALIG Lebanon and Al Ahlia Bahrain. In 2002, I decided to join the Takaful industry by accepting a position with Abu Dhabi Islamic Bank, where I established Abu Dhabi National Takaful Company. What does your role involve? What is your greatest achievement to date? (Editor’s note: Takaful’s earnings results for the year ended December 2007 reported an increase in net profit to AED10.6 million (US$2.9 million) from AED8.1 million (US$2.2 million) in 2006. Earnings per share rose to AED0.18 (US$0.049) from AED0.13 (US$0.035). Revenue grew to AED138.3 million (US$37.7 million) from AED87 million (US$23.7 million). The company reported a 59% growth in the contributions, which represent the Islamic insurance premiums. Also, the investment income increased by 65%.) Which of your products/services deliver the best results? What are the strengths of your business? What are the factors contributing to the success of your company? What are the obstacles faced in running your business today? These challenges manifest themselves in the form of a real shortage in the required human capital, lack of a supportive legal and regulatory framework, the non-existence of uniform terminologies and the degree of unresolved ‘fiqh’ issues. Where do you see the Islamic finance industry, maybe in the next five years? Name one thing you would like to see change in the world of Islamic finance? I would call for more Shariah scholars, adequate training for human capital, more uniformity in regulations and structured expansion to western countries.
Abu Dhabi National Takaful Company (TAKAFUL) is a national insurance company established in the capital of the United Arab Emirates, Abu Dhabi, in November 2003. TAKAFUL is a public shareholding company that aims to serve the growing need for Islamic insurance solutions by offering a comprehensive range of products and services. It was listed on the Abu Dhabi Securities Market in 2005. |