Although takaful has been in the market for more than 20 years, it has yet to make significant inroads. It should however, be noted that although the conventional insurance market is deeply entrenched in several of the Muslim countries, the percentage of the Muslim population that are insured is relatively low. The market penetration level is very low, notably less than 5 percent in many Muslim countries. In Malaysia, the level of market penetration in terms of takaful certificates in force over the total population is only 3.8 per cent compared to a market penetration for conventional insurance of 34.7 per cent. It therefore represents an enormous potential market that remains yet untapped. More efforts and strategies need to be carried out in order to ensure the continuous development of this lucrative industry.

In that spirit, the Malaysian Takaful Association (MTA) in collaboration with Center for Research and Training (CERT) has decided to organize its 4th Annual International Convention on Takaful and Retakaful (ICTR 2008) back to back with the 5th Kuala Lumpur Islamic Finance Forum (KLIFF 2008). KLIFF 2008, one of the most awaited events in Islamic finance will be held on 17 – 20 November 2008 at the Grand Ballroom, Hotel Istana Kuala Lumpur which will subsequently continue with the organization of ICTR 2008 on 20 – 21 November 2008. ICTR 2008 will serve as an excellent platform in providing greater awareness on the innovative products and services available in the takaful and retakaful market. The convention will be attended by more than 200 industry experts and decision makers from all over the world. Come and join us and you will definitely benefit from this event!