1. religion and spirituality
2. islam

Tajweez Advisory Co. WLL
– A Corporate Profile –
Version: January, 2015
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By ACCEPTANCE OF THIS DOCUMENT, THE RECIPIENT AGREES TO BE BOUND BY THE AFOREMENTIONED STATEMENT
2
A VERY WARM WELCOME TO YOU
Assalam Alaikum !
I am excited and pleased to present to
you our “Corporate Profile.”
The purpose of this vital document is to
Mr. Farhan Noor
Executive Director –
Islamic Finance
Inform you about our company:
Tajweez Advisory is a Shariah and
Actuarial advisory firmheadquartered
in the Kingdom of Bahrain with
presence in United Arab Emirates as
well
Describe what it does: We provide
advisory services in the areas of
Shariah, Actuarial, and Higher
Education Learning;
Prove Our Competency: Our experts
have successfully provided advisory
services to over 30 companies in
around 11 countries;
Talk about our Achievements and
Accomplishments:
We won the Editor’s “Best Islamic
Finance Offering” award in 2014 given
by WealthBriefing GCC Region,
ClearView Financial Media.
We have developed the world’s
first Artificially Intelligent Shariah
Advisor, known as “eFiqh
KnowledgeBase”, which has the
capability to respond to your questions
about any ruling from 30
contracts/topics;
We have developed in-house
unique & powerful strategies, tools and
techniques to revolutionize and
transform the way higher education inclass learning as well as e-learning
takes places
Explain what truly differentiates us
from others: Two words: Innovation
and Excellence.
So…
If you want to set up a new Islamic
Bank window, or a Takaful window,
or an Islamic Leasing desk within
your existing set up, or develop an
Islamic Mutual Fund, or get a Halal
Certificate for your food and
beverages products…
If you want to get an Actuarial and
Risk Management work done in the
life and personal non-life insurance
& Takaful fields…
If you want to transform your
university’s qualifications or
courses into powerful learning
experiences for your students,
and/or are about to either start
your own e-learning website or
upgrade an existing one…
Talk to us!
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
3
SECTIONS OF THE CORPORATE PROFILE
01
02
03
04
05
Our Vision,
Mission, Value
Statements &
Business
EcoSystem
Our Shariah
Advisory
Services
Our Actuarial
Advisory
Services
Our Advisory
Services in
Higher
Education
Learning
Our Pioneering
Independent
Project(s)
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
4
01 OUR VISION, MISSION, VALUE
STATEMENTS & BUSINESS
ECOSYSTEM
5
AN INTRODUCTION TO TAJWEEZ ADVISORY CO. WLL
ABOUT US / Your Shariah & Actuarial Advisors
TAJWEEZ ADVISORY CO. WLL is a Shariah and
Actuarial Advisory firm. It was incorporated in
2011 and is headquartered in the Kingdom of
Bahrain—the GCC Hub of Islamic Finance—with
presence in United Arab Emirates as well.
We render Shari’ah & Actuarial advisory,
consultancy, research, and training services
and solutions with the right mix of strategy and
insight to help clientele get their technical work
done in a cost-effective and innovative manner.
Our core areas of expertise are problem
identification and problem solving both at the
strategic and at technical levels of business.
On our consultancy panel include prominent
and experienced Shariah Advisors and
business professionals.
Why Tajweez Advisory ? Because it is both
practical and profitable to outsource critical
business functions to the experts. Optimizing
the value of your spend is at the heart of our
services which is achieved by taking your
matters both at the professional as well as at a
personal level. We rely on the strength of
smart,
intelligent
work,
cutting-edge
technology, and strong ethics to deliver high
quality results.
Tajweez Advisory won
Finance Offering” award
GCC Region, ClearView
2014, on the basis
excellence.
the “Best Islamic
at the WealthBriefing
Financial Media, in
of innovation and
We have a thing for societal uplift and
betterment and as such participates,
channelizes, and/or arrange resources towards
worthwhile causes.
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
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OUR VISION, MISSION, & VALUE STATEMENTS
1
VISION
that defines us
To be the source of immediate inspiration, imagination, and solutions for
individuals and companies that seek to be profitable and successful
2
MISSION
that drives us
We will be the leading advisory firm that focuses on solutions that help
individuals and companies by getting their technical work done in a costeffective and innovative manner
3
VALUE
that endures us
We have a passionate love affair with constant pursuit of innovation and
excellence in everything we do
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
7
OUR BUSINESS ECOSYSTEM
1
2
SHARIAH ADVISORY
−
−
−
−
−
Islamic Banking
Islamic Insurance (Takaful)
Islamic Leasing (Ijarah)
Islamic Mutual Funds
Halal Food Certification
ACTUARIAL ADVISORY
−
−
−
−
Life & Non-Life Insurance
Family & General Takaful
Reinsurance & ReTakaful
Regulatory Compliance & Management
Reporting
Enterprise Risk Management
−
3
ADVISORY IN
HIGHER EDUCATION
LEARNING
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
−
−
Designing Curriculum /
Learning Content
Designing E-Learning Value
Model
8
WHAT DIFFERENTIATES & DISTINGUISHES US IS INNOVATION & EXCELLENCE !
--WE CREATE GAME-CHANGING SOLUTIONS--
SHARIAH WORK
ACTUARIAL WORK
We have developed the world’s first and the only
knowledgebase that can search for a Fiqh ruling from several
Madhabs (schools of Islamic Jurisprudence) on any issue
involving any Islamic contract or topic.
How is this helpful?
Imagine yourself as a product developer at a Shariah Advisory
firm—like ourselves—and you need to develop an innovative or
feature laden product for your clientele. And you want to know
whether there is an alternative ruling on a particular issue
other than what is common knowledge. What would you do?
What if you had access to our eFiqh KnowledgeBase? You
would simply type in your query and the system would display
that alternative ruling(s)!
Note that there is nothing like this in the world at the moment.
Talk about innovation & excellence!
LEARNING & DEVELOPMENT WORK
We have developed what we call as “Enhanced Visual
Learning” (EVL) for in-class learning and “Enhanced &
Personalized Learning Environment” (ePLE) for e-learning
platforms.
We are currently
in design and
development
phase of a truly
innovative
project par
excellence.
Details will be
shared in due
time.
How is this helpful?
Imagine yourself as a higher educational institution which
aims at launching a world-class qualification in Islamic
Finance. What would you do to secure your goal? You would
primarily focus on three critical factors: i) the way that
qualification is taught (whether in-class or e-learning); ii)
develop its learning content; and iii) define the way you will
assess your students for knowledge & skills
With EVL and ePLE, we offer innovative solutions to these
factors that helps create a unique and powerful learning
experience for students that is comprehensive, complex, and
complete in every sense of the word.
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
9
02 OUR SHARIAH ADVISORY
SERVICES
10
Global Islamic
Economy is worth
TRILLIONS*!
* USD 6.7 trillion
larger than all national economies except US & China
You Need Committed
Shariah Experts &
Technicians To Guide
You Through Your
Shariah Compliance
Requirements
Source: “State of Global Islamic Economy” (2014), produced by Thomson Reuters & Dubai Authorities
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
11
WE PROVIDE SHARIAH ADVISORY SERVICES IN 5 SECTORS
1
2
3
4
5
ISLAMIC
BANKING
ISLAMIC
INSURANCE
(TAKAFUL)
ISLAMIC
LEASING
(IJARAH)
ISLAMIC
MUTUAL
FUNDS
HALAL FOOD
CERTIFICATION
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
12
SHARIAH ADVISORY SERVICES : ISLAMIC BANKING
Both Asset & Liability
side; Name of Products
will be: Murabahah, Ijara,
Diminishing Musharakah,
& Modarabah
All Products will be
made in
compliance with
local regulatory
laws
1
We will set up a New
Islamic Banking
Window for you
Draft Product
Documentation
Ensure
Compliance w/
Law of Land
ISLAMIC
BANKING
2
Develop
Business Plan
We will gather
information of
potential
clientele and
show 5 years
projection
3
Develop
Shariah
Governance
Framework
Our Shariah
Scholar will be
your Bank’s
Shariah Advisor
4
5
Provide Guidelines for
Accounting Treatment
of Products
Advice in
Development of IT
System
We will provide the
guideline for accounting
treatment under AAOIFI
standards
Your Current IT
system will be used
and we will advice
some changes of
terminologies in it
6
7
Develop
Products &
Services
Develop
Product
Manuals
We will
structure and
develop the
products you
wants to offer
We will draft
Manuals and
SOPs for your
Bank’s Products
& Services
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
8
Issue Certificates
& Reports of
Shariah
Compliance
9
10
Staff Training
We will conduct
training of your
staff
Our Shariah Scholar
will issue
Certificates of
Shariah Compliance
after development
of products,
required for legal
and marketing
purposes. Shariah
Scholar will also
issue annual Shariah
Report
13
SHARIAH ADVISORY SERVICES : ISLAMIC INSURANCE (TAKAFUL)
ISLAMIC
INSURANCE
(TAKAFUL)
Ensure
Compliance w/
Law of Land
All Products will be
made in
compliance with
local regulatory
laws
1
2
Develop
Business Plan
We will gather
information of
potential
clientele and
show 5 years
projection
3
Develop
Shariah
Governance
Framework
Our Shariah
Scholar will be
your Bank’s
Shariah Advisor
Draft Product
Documentation
We will draft products on
the basis of Waqf or
Wakalah (as per
regulatory framework of
your country)
4
We will set up a New
Takaful Window for
you
5
Provide Guidelines for
Accounting Treatment
of Products
Advice in
Development of IT
System
We will provide the
guideline for accounting
treatment under AAOIFI
standards
Your Current IT
system will be used
and we will advice
some changes of
terminologies in it
6
7
Develop
Products &
Services
Develop
Product
Manuals
We will
structure and
develop the
products you
wants to offer
We will draft
Manuals and
SOPs for your
Bank’s Products
& Services
8
Issue Certificates
& Reports of
Shariah
Compliance
Our Shariah Scholar
will issue
Certificates of
Shariah Compliance
after development
of products,
required for legal
and marketing
purposes. Shariah
Scholar will also
issue annual Shariah
Report
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
9
11
10
Investment
Policy
We will make the
Investment
Policy as per
Shariah rules
Staff Training
We will conduct
training of your
staff
14
SHARIAH ADVISORY SERVICES : ISLAMIC LEASING (IJARAH)
Draft Product
Documentation
Ensure
Compliance w/
Law of Land
All Products will be
made in
compliance with
local regulatory
laws
1
2
Develop
Business Plan
We will gather
information of
potential
clientele and
show 5 years
projection
ISLAMIC
LEASING
We will draft product
documentation for
Shariah and legal
purposes
3
Develop
Shariah
Governance
Framework
Our Shariah
Scholar will be
your Company’s
Shariah Advisor
4
5
Develop
Products &
Services
We will
structure and
develop the
products you
wants to offer
We will set up a New
Desk of Islamic
Leasing within your
Current Conventional
Leasing Set up;
Existing Funds will be
used without need for
hiring new resources
Provide Guidelines for
Accounting Treatment
of Products
Advice in
Development of IT
System
We will provide the
guideline for accounting
treatment as per industry
standards
Your Current IT
system will be used
and we will advice
some changes of
terminologies in it
6
7
Develop
Product
Manuals
We will draft
Manuals and
SOPs for your
Bank’s Products
& Services
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
8
Issue Certificates
& Reports of
Shariah
Compliance
9
10
Staff Training
We will conduct
training of your
staff
Our Shariah Scholar
will issue
Certificates of
Shariah Compliance
after development
of products,
required for legal
and marketing
purposes. Shariah
Scholar will also
issue annual Shariah
Report
15
SHARIAH ADVISORY SERVICES : ISLAMIC MUTUAL FUNDS
We will develop fund
documentation and
manuals
All Products will be
made in
compliance with
local regulatory
laws
1
2
Shariah
Screening
Criteria for
Equities
We will develop
and introduce
Shariah
Screening
Criteria for
Equities
Provide Guidelines for
Accounting Treatment
of Products
Documentation &
Manuals
Ensure
Compliance w/
Law of Land
3
Develop
Shariah
Governance
Framework
Our Shariah
Scholar will be
your Bank’s
Shariah Advisor
4
We will provide the
guideline for accounting
treatment as per industry
standards
5
Investment
Policy
Funds will be
invested in
Shariah
Compliant
avenues. For
e.g.: approved
equities, Sukuk,
etc. We will
make
investment
policy for you
6
7
8
Brand Name for Issue Certificates
& Reports of
your Mutual
Shariah
Fund
We will suggest a Compliance
good Arabic
name for your
Islamic Fund. For
e.g.: Amana,
Yaqeen, etc.
Advice in
Development of IT
System
ISLAMIC
MUTUAL FUNDS
Our Shariah Scholar
will issue
Certificates of
Shariah Compliance
after development
of products,
required for legal
and marketing
purposes. Shariah
Scholar will also
issue annual Shariah
Report
We will develop new
Islamic Mutual Fund
by using available
resources. No need for
further investment.
Funds will be gathered
from public and
invested in Shariah
compliant avenues
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
Your Current IT
system will be used
and we will advice
some changes of
terminologies in it
9
10
Staff Training
We will conduct
training of your
staff
16
SHARIAH ADVISORY SERVICES : ISLAMIC MUTUAL FUNDS
HALAL FOOD
CERTIFICATION
1
2
Halal
Certification
We will issue
Halal Certificate
for your food
and/or
beverage
product
4
On-Site Inspection
This is mandatory. We will
check whether you
physically use the
ingredients informed to us
or not. Halal Certificate is
the Shahadah and
Shahadah can be given
after visualization only.
5
6
3
8
9
Off-Site
Inspection
We will conduct
research about the
ingredients you use
for your food and/or
beverage product
and then check for
its Shariah status.
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
4
Staff Training
We will conduct
training of your
staff and inform
you the Halal and
Haraam
ingredients in
ISlam
We will issue Halal
Certificate for your
food and beverage
product
17
NUMBER & TYPE OF MAJOR INSTITUTIONS SERVED
NO. OF ISLAMIC BANKS
ADVISED
NO. OF ISLAMIC
INSURANCE (TAKAFUL)
COMPANIES ADVISED
NO. OF MUTUAL FUNDS
COMPANIES ADVISED
06+
05+
03+
NO. OF LEASING
COMPANIES ADVISED
NO. OF SOCIAL
INSTITUTIONS ADVISED
02+
07+
NO. OF FOOD
MANUFACTURING
COMPANIES ADVISED
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
01+
18
COUNTRIES WHERE SHARIAH ADVISORY SERVICES WERE DELIVERED
UNITED ARAB
EMIRATES
PAKISTAN
INDONESIA
UNITED STATES OF
AMERICA
CANADA
AUSTRALIA
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
19
03 OUR ACTUARIAL ADVISORY
SERVICES
20
We Look for the
Biggest Problem
and Solve It
Because Therein Lies
the Greatest
Opportunity
21
WE OFFER CUSTOMIZED, COMPREHENSIVE, & COST-EFFECTIVE
ACTUARIAL ADVISORY SERVICES
CUSTOMIZED
COST-EFFECTIVE
COMPREHENSIVE
Solutions & Services Customized to
your Unique & Specific Needs
PLANNING : Will discuss your needs
and chalk out a project plan specific to
your circumstances
INTERACTIVITY : Will work
interactively with you on all areas and
stages of the assignment
AVAILABILITY : Will listen to your
requirements, issues, concerns, and
insights
Offering suite of Actuarial & Risk
Management Services Covering
Varying Sectors & Regions
ACTUARIAL : Product Design,
Compliance, Reserving, & Financial
Modeling
RISK MANAGEMENT : Risk
Assessments, Rating Agencies, ERM
Frameworks, Stochastic Models
ANALYTICS & SOFTWARE :
Dashboards & KPIs, Data
Management, Customized Tools,
Systems Evaluation
Providing Cost-Effective Solutions by
Incorporating Efficiency & Reducing
Wastage
EFFICIENT WORKFLOWS : To
increase productivity, enhance
efficiency, & minimize expenditure
TECHNOLOGY : Can leverage
technology to provide efficient
solutions
SPECIALIST NETWORK : Have access
to wide range of experts who could be
utilized on a project-to-project basis
OTHERS : Training, Pensions,
Valuation, Market Research
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
22
WE PROVIDE ACTUARIAL ADVISORY SERVICES IN 3 SECTORS
1
2
3
LIFE & NON-LIFE
INSURANCE
FAMILY &
GENERAL
TAKAFUL
REINSURANCE
&
RETAKAFUL
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
23
WE OFFER 6 BROAD ACTUARIAL ADVISORY SERVICES
KEY SERVICE AREAS
PRODUCT
DESIGN
COMPLIANCE
RESERVING
BUSINESS
PLANS
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
ENTERPRISE
RISK
MANAGEMENT
ANALYTICS
24
ACTUARIAL ADVISORY SERVICES : PRODUCT DESIGN
In an increasingly competitive and regulated
insurance environment, it is imperative that
companies have carefully designed products. Any
inefficiency in product design leads to unforeseen
risks which translates to lost sales, poor
persistency, regulatory and customer satisfaction
issues and poor profitability.
ADMINISTRATION
SYSTEM SIGN OFF
ILLUSTRATION
SOFTWARE
We have extensive experience in designing and
pricing all types of life and medical insurance
products and personal non-life insurance
products.
REGULATORY FILING
We fully understand the nuances of different
types of products, regulatory regimes, Takaful
operations, commission structures, and solvency
requirements on product design
We provide full range of services for product
design and development:
•
•
•
•
•
•
Design and Review
Wording Review
ProfitabilityAnalysis
Regulatory Filing
IllustrationSoftware
AdministrationSystemSignOff
6
5
4
PROFITABILITY
ANALYSIS
3
WORDING REVIEW
2
DESIGN & REVIEW
1
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
25
ACTUARIAL ADVISORY SERVICES : COMPLIANCE
The regulatory environment and internal
corporate management processes are
becoming increasing complex. Companies are
now required to adhere to stringent
qualitative and quantitative regulations and
guidelines.
We have extensive experience in performing
various compliance related assignments for
management, regulators, rating agencies
etc.
We particularly have strong understanding
of regulatory regimes in Bahrain, UAE, KSA,
Oman, Qatar, Pakistan and Kenya.
CERTIFICATION OF DISTRIBUTION
OF SURPLUS
CERTIFICATION OF SURPLUS /
DEFICIT FOR TAKAFUL FUNDS
CERTIFICATION OF WAKALAH FEES
FOR TAKAFUL COMPANIES
REGULATORY FORMS
ASSET-LIABILITY MANAGEMENT /
INVESTMENT STRATEGY
We provide full range of services for compliance
•
•
•
•
•
•
•
•
Appointed Actuary Services
Financial Condition Reports
Motor / Medical Pricing Reports
Asset Liability Management / Investment
Strategy
Regulatory Forms
Certification of Wakala Fees for Takaful
companies
Certification of Surplus/ Deficit for Takaful
funds
Certification of Distribution of surplus
MOTOR / MEDICAL PRICING
REPORTS
FINANCIAL CONDITION REPORTS
APPOINTED ACTUARY SERVICES
8
7
6
5
4
3
2
1
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
26
ACTUARIAL ADVISORY SERVICES : RESERVING
Accurate valuation of insurance and Takaful
portfolios is essential aspect of management
of these companies. This is required by
regulators, investors, rating agencies,
management etc. Without proper reserving
and valuation of portfolios, the reported
profitability of the company is highly
questionable.
CONTINGENCY
RESERVES MODELING
SOURCES OF
SURPLUS ANALYSIS
BACKTESTING
ANALYSIS
We have extensive experience and expertise
in calculating reserves for life, general
insurance and medical policies.
We are particularly well versed with the
regulatory regimes in the GCC region as well
as in more developed markets.
We provide full range of services for Reserving:
•
•
•
•
•
•
•
Best Estimates
Regulatory Basis
IFRS / US GAAP / Fair Value / Solvency II
Independent Actuarial Review
Backtesting Analysis
Sources of Surplus Analysis
Contingency Reserves Modeling
6
5
INDEPENDENT
ACTUARIAL REVIEW
IFRS / US GAAP / FAIR
VALUE / SOLVENCY II
7
4
3
REGULATORY BASIS
2
BEST ESTIMATES
1
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
27
ACTUARIAL ADVISORY SERVICES : BUSINESS PLANS
It is very important to have a robust business
plan in order to succeed in the current
competitive world. The business plan serves
as a blueprint for the growth of the
Company. Regulators, management, rating
agencies and investors all require future
projection of financials in order to gauge the
feasibility of a new or existing company.
We have prepared detailed business plans
including financial projections for a variety
of conventional life and non-life companies,
takaful,
reinsurance
and
retakaful
companies. These business plans have been
prepared under various regulatory regimes
include Bahrain, UAE, KSA, Qatar, Oman
and Pakistan.
MODEL OFFICE
RATING AGENCIES
PRESENTATION
EMBEDDED VALUE &
APPRAISALS
BUDGETING & FINANCIAL
REPORTING
We provide full range of services for Business Plan:
•
•
•
•
•
Authorization Application
Budgeting and Financial Planning
Embedded Value and Appraisals
Rating Agencies Presentation
Model Office
5
4
3
2
AUTHORIZATION
APPLICATION
1
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
28
ACTUARIAL ADVISORY SERVICES : ENTERPRISE RISK MANAGEMENT
Enterprise Risk Management (ERM) provides
holistic management of risks and returns for
a Company.
DOCUMENTATION &
IMPLEMENTATION OF CAPITAL
MODELS
ERM frameworks are rapidly being utilised by
regulators, management and rating agencies
to assess companies.
DEVELOPING PRICING & MGNT
MODELS FOR INCORPORATING
ECONOMIC CAPITAL
We have provided wide range risk services to
insurance companies. This includes both
qualitative and quantitative assessment of
risks and returns of the company.
We provide full range of services for Enterprise
Risk Management:
•
•
•
•
•
•
Helping companies articulate their risk
appetite
Building Dynamic Financial Analysis
(DFA) models
Performing DFA Assessments
Working on issues related to economic
modelling
Developing pricing and management
models incorporating economic capital
Documentation and implementation of
capital models
WORKING ON ISSUES RELATED TO
ECONOMIC MODELING
PERFORMING DFA ASSESSMENTS
BUILDING DYNAMIC FINANCIAL
ANALYSIS (DFA) MODELS
HELPING COMPANIES ARTICULATE
THEIR RISK APPETITE
6
5
4
3
2
1
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
29
ACTUARIAL ADVISORY SERVICES : ANALYTICS
Without proper analysis, Companies are in
the dark about their actual performance. By
utilizing the power and predictive power of
proper analysis, companies can gain valuable
insights into their business.
SOFTWARE & TOOLS
DEVELOPMENT
DATA MINING
We have vast experience and skills in
providing analytical services to companies.
By leveraging technology and automating
the process, we are able to help companies
gain insights from their data.
EXPERIENCE ANALYSIS –
MORTALITY, LAPSE, INVESTMENT,
EXPENSE, ETC.
We provide full range of services forAnalytics:
•
•
•
•
•
•
Data services
Predictive Analytics - GLM, forecasting
models etc.
Dashboards, KPIs and Analytics Reports
Experience Analysis - mortality, lapse,
investment, expense etc.
Data mining
Software and tools development
DASHBOARDS, KPIs, & ANALYTICS
REPORTS
PREDICTIVE ANALYTICS – GLM,
FORECASTING MODELS, ETC.
6
5
4
3
2
DATA SERVICES
1
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
30
OUR PROFOUND LEVEL OF EXPERIENCE & EXPERTISE IS EVIDENT
NO. OF INSURANCE &
TAKAFUL PRODUCTS
DESIGNED & PRICED (WITHIN
GCC)
40+
NO. OF RESERVING SERVICES
FOR LIFE & NON-LIFE
POLICIES (WITHIN GCC)
30+
NO. OF FINANCIAL CONDITION
REPORTS DEVELOPED &
SUBMITTED TO REGULATORY
REGIMES
15+
NO. OF BUSINESS PLANS
DEVELOPED & FINANCIAL
PROJECTIONS MADE FOR
NEW & EXISTING COMPANIES
NO. OF INSURANCE &
TAKAFUL COMPANIES
ADVISED
NO. OF DIFFERENT
REGULATORY REGIMES WE
WORKED UNDER
20+
10+
05+
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
31
COUNTRIES WHERE ACTUARIAL ADVISORY SERVICES WERE DELIVERED
SAUDI ARABIA
OMAN
QATAR
KENYA
UNITED ARAB
EMIRATES
BAHRAIN
PAKISTAN
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
32
04 OUR ADVISORY SERVICES IN
HIGHER EDUCATION
LEARNING
33
Progress Lies Not
in Enhancing
What Is
But in Advancing
Towards What
Will Be
Source: Khalil Gibran
34
WE PROVIDE ADVISORY SERVICES IN 2 AREAS OF HIGHER EDUCATION LEARNING
Enhanced Visual Learning Framework &
ePLE™ is a game-changer, a paradigmshifter, in the world of in-class instruction or
e-learning.
EVL and ePLE transforms textbook-andlecture based courses into powerful &
complete learning experiences.
Learning has quite literally never been this
different, this comprehensive, and this
complex.
1
LEARNING
CONTENT
R&D
USING
ENHANCED
VISUAL
LEARNING (EVL)
STRATEGIES
2
DESIGNING
E-LEARNING
VALUE MODEL
THROUGH
ENHANCED
PERSONALIZED
LEARNING
EVIRONMENT
(ePLE)
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
35
HIGHER LEARNING ADVISORY SERVICES :
LEARNING CONTENT R&D USING ENHANCED VISUAL LEARNING STRATEGIES - 1
A powerful learning experience is one that
delivers on three counts: the acquisition of deep &
profound knowledge of the subject-matter, 21st
century skills, & motivation for self-learning.
EnhancedVisual Learning delivers on all three:
Deep Knowledge: With EVL, students develop
deep knowledge, which, in the words of Harvard
Learning Theorist David Perkins, is : the ability to
explain the learned concept in their own words,
give new examples that demonstrate knowledge,
apply the knowledge to a concept that has not yet
been studied, justify or support their positions,
compare and contrast the material learned to
previously studied material, use new knowledge in
the context of the general subject area, & make
generalizations related to the subject, etc.
21st Century Skills: With EVL, the focus is on the
development of higher order skills such as
Creativity, Critical Thinking, Communication, &
Collaboration, etc., essential for absorption of
knowledge as well as for optimal work
performance
Deep
Knowledge
21st
Century
Skills
Self
Learning
ENHANCED VISUAL LEARNING
Self-Learning: EVL facilitates self-learning which
is essential for activating transference, building
expertise, & fostering creativity.
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
36
HIGHER LEARNING ADVISORY SERVICES :
LEARNING CONTENT R&D USING ENHANCED VISUAL LEARNING STRATEGIES - 2
Enhanced Visual Learning Framework is a broad
and flexible framework involving strategies and
techniques to help deliver a truly superior
learning experience
EVL Strategies: Cognitive Science tells us that our
brains are not naturally designed to think, or rather
to think as first priority. Instead, it is designed to
save us time from having to think! Why? Because
thinking is a slow and unreliable process and
therefore it trusts the memory to get done most of
the tasks. This lone scientific fact has great
implications for learning. Thus, to make thinking
happen, we must re-design our existing
Curriculum accordingly. A Curriculum based on
EVL Strategies makes thinking the core activity in
the learning process.
EVL Techniques: Cognitive Science also tells us
that our brains prefer visuals over words. It is
known that our brain processes visuals 60k times
faster than text; that 50% of our brain is active in
visual thinking; that 70% of our sensory receptors
are in our eyes; and that 90% of information
transmitted to it is visual in content! So why do we
continue to use audio lectures and text-books to
teach? It is not only unscientific but ineffective as
well. A Curriculum incorporating EVL Techniques
promotes better, quicker, and deeper
understanding of concepts
ENHANCED VISUAL LEARNING FRAMEWORK
To Organize &
Understand
To Create a
“Thinking”Focused
Curriculum
Information
Differently
SUB POINT
Enhanced Visual
Learning Strategies
Enhanced Visual
Learning Techniques
Promotes HigherOrder Thinking
Promotes Deeper
Understanding
Powerful Learning Experience
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
37
HIGHER LEARNING ADVISORY SERVICES :
LEARNING CONTENT R&D USING ENHANCED VISUAL LEARNING STRATEGIES - 3
EVL Strategies
The Enhanced Visual Learning Strategies listed
(and those not listed) are mostly based on
research from the field of cognitive science. The
idea is to develop the Curriculum in a way that
makes “thinking” the core activity in the learning
process.
EVL Strategies are proven to deliver on the
following promises, at minimum:
1.
2.
3.
4.
5.
Students gain deep & profound knowledge
of the subject-matter like never before
Students think better—critically, creatively,
and practically, about what they study
Brief Description
Sample Benefit
1. Multiple Context
A context is a set of facts or circumstances that
surround a situation; it is like putting students in other
people’s shoes
Making the right piece of information available at the
right time at the right place to improve learning;
promotes deep learning
2. Multiple Perspectives
A perspective is a mental view, a cognitive orientation,
a way of seeing things; it is like putting students in
other people’s minds
The ability to entertain several different perspectives of
a particular subject is a characteristic of genius!;
promotes deep learning
3. Experts’ Thought
Processes
Curriculums teach students what experts do. But rarely Students master the art of problem solving more
it teaches students how experts think.
effectively and efficiently
4. Creating Curiosity
Curiosity is a fragile state of mind in which students
want to learn more about something. But how do you
create curiosity & sustain it?
Students are asked to examine and note the
5. Comparative Thinking similarities and differences of…
We create curiosity by asking students to think how
certain thing may work and then share their reasoning
Helps restructure understanding, make new
connections, experience new insights, and correct
misconceptions
6. Disruptive Thinking
“In order to truly understand something, try changing
Student must not agree to everything at face value.
it”—this promotes deep learning and encourages
They should ask why. Ask why not. Force them to think!
creative thinking
7. Fill in the Gaps
Students are intrinsically motivated,
engaged, and attentive to their learning
needs
Students must be challenged to complete half finished
Promotes creative thinking and activates prior
processes, and learn to construct and think about
knowledge
reality
8. Tracing Implications
Not everything is explicitly expressed or strictly implied.
Students learn to think, rethink, argue, counter argue,
That is why tracing implications of one’s reasoning is
interpret and justify their inferences & conclusions
important in learning
Students continue to learn on their own even
after completing the module or course
9. Meta-Learning
Telling students about the “unknown” matters of the
Meta-Learning is when students learn about how much
subject motivates and inspires them to undertake
they know and don’t know in a particular domain
research activities
10.Compelling Stories
Psychologists refer to stories as “psychologically
privileged” because our minds treat stories differently
than other types of material
Students acquire strong problem-solving
skills and yearn for real world challenges
To See These Strategies in Action,
Contact Us ([email protected])
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
Story format has psychological significance—better
comprehension & better memory
38
HIGHER LEARNING ADVISORY SERVICES :
LEARNING CONTENT R&D USING ENHANCED VISUAL LEARNING STRATEGIES - 4
With the Enhanced Visual Learning Techniques
listed (and those not listed), the idea is to model
information or knowledge in a form that students
can easily comprehend both at a surface level
and at a deeper level
EVL Strategies are proven to deliver on the
following promises at minimum:
1.
Students see how and learn to synthesize
and integrate information and ideas
2.
Students think holistically i.e. they see the
whole as well as the parts, & the relationships
and patterns among them
3.
Long-term memory is vastly improved when
information is represented and learnt both
visually and verbally
4.
Students think with clarity and new concepts
are more thoroughly and easily understood
To See These Techniques in Action,
Contact Us ([email protected])
Descriptive / Thematic Map works well for
mapping generic information, but particularly
well for mapping hierarchical relationships
A Sequential Episodic Map is useful for mapping
Cause and Effect
Organizing a hierarchical set of information,
reflecting superordinate, or subordinate
elements, is made easier by constructing a
Network Tree
Another way to compare concepts’ attributes is
to construct a Compare-Contrast Matrix
When the information relating to a main idea or
theme does not fit into a hierarchy, a Spider Map
can help with organization
A Comparative and Contrastive Map can help
students to compare and contrast two concepts
according to their features
When information contains cause and effect
problems and solutions, a Problem and Solution
Map can be useful for organizing
A Series of Events Chain can help students
organize information according to various steps
or stages
A Problem-Solution Outline helps students to
compare different solutions to a problem
Continuum Scale is effective for organizing
information along a dimension such as less to
more, low to high, and few to many
When cause-and-effect relationships are
complex and non-redundant, a Fishbone Map
may be particularly useful
A Cycle Map is useful for organizing information
that is circular or cyclical, with no absolute
beginning or ending
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
39
HIGHER LEARNING ADVISORY SERVICES : E-LEARNING PLATFORM DESIGNING THROUGH
ENHANCED PERSONALIZED LEARNING ENVIRONMENT (ePLE)
“In the rush to turn online education into a
business, the roof caved in” (New York Times,
2002). But did we learn our lesson?
Unfortunately, we are still persisting with the
traditional e-learning model where focus is more
on technology & content development rather
than on making learning happen. We have
sought to rethink and redesign the way ELearning works. Welcome to Enhanced
Personalized Learning Environment (ePLE™)!
The power and beauty of Enhanced Personalized
Learning Environment (ePLE™) lies in the fact that
it:
1. Focuses entirely on active learning and selflearning instead of teaching and instruction;
2.
Focuses on making learners think about
every piece of knowledge received, its
application, and enhancement;
3.
Focuses on select little knowledge that is
worth infinitely more than much knowledge
that is idle (the 80/20 Pareto Rule);
Curriculum
Online
Qualification
Online
Learning
(LMS)
Online
Assessment
Pass / Fail
Certificate
E-Module – 1
E-Module – 2
E-Module – 3
E-Module – 4
We REJECT this traditional E-Learning Model where emphasis is on developing standard Curricula, purchasing
“state-of-the-art” LMS technology, converting same-old classroom assessments into online assessments, and
eventually issuing a pass/fail certificate to the learner.
Please contact us for a presentation on
ePLE ([email protected])
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
40
OUR SCOPE AND DEPTH OF WORK IN HIGHER EDUCATION LEARNING
NO. OF INTERNATIONAL
INSTITUTIONS SERVED
NO. OF BLUE-CHIP
COMPANIES SERVED
NO. OF UNIVERSITIES
SERVED
2
01
02
NO. OF EDUCATIONAL
CONSULTANTS SERVED
NO. OF PUBLICATIONS /
WORKSHOPS / LECTURING
DELIVERED
NO. OF STUDENTS
INDEPENDENTLY MENTORED
FOR ACHIEVING LEARNING
EFFECTIVENESS
03
15+
500+
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
41
05 OUR PIONEERING
INDEPENDENT PROJECT(S)
42
IN-HOUSE PROJECTS
1
2
eFiqh
KnowledgeBase
Actuarial
Masterclass
Series (2105)
Program
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
43
WORLD’S FIRST ARTIFICIALLY INTELLIGENT SHARIAH ADVISOR :
“eFIQH KNOWLEDGEBASE” (eFK) – 1
The Islamic Fiqh is like an ocean of knowledge
spread across thousands of voluminous books
written by hundreds of leading Jurists since over
thousand of years. To make the entire corpus of
knowledge searchable is a humungous task
because each ruling needs to be manually
arranged in a format understandable by the
technology. That work has begun, and we hereby
present before you some incredible highlights
from it,Alhamdulillah
To your right is an envisaged search bar that is able
to retrieve rulings from the eFiqh KnowledgeBase.
When the user types in the preferred search
keywords or a question, the system returns with
suggestions relevant to that query for more
precise and specific results. The user may either
browse the eFK with a generic query or only
request Fiqh ruling for a very specific issue. The
ruling is extracted from the eFK that we have
developed *manually* after typing it into the
system ourselves in a very scientific manner over a
period of two very long years. The search result is
also displayed in a very clever manner with
explanations and by pinpointing the similarities
and differences within rulings for a truly powerful
learning experience.
What are the rulings concerning Delivery in Salam
What are the rulings concerning Deferment in Delivery in Salam
What are the rulings concerning Term of Deferment of Delivery in Salam
What are the rulings concerning Date of Delivery in Salam
What are the rulings concerning Deferment in Location of Delivery in Salam
What are the rulings concerning Early Delivery in Salam
What are the rulings concerning Failed Delivery in Salam
What are the rulings concerning Delivery of Superior Goods in Salam
What are the rulings concerning Delivery of Inferior Goods in Salam
What are the rulings concerning the Penalty for Late Delivery in Salam
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
44
WORLD’S FIRST ARTIFICIALLY INTELLIGENT SHARIAH ADVISOR :
“eFIQH KNOWLEDGEBASE” (eFK) – 2
Perhaps the most powerful & intelligent feature
of eFiqh KnowledgeBase is that it doesn’t just
extract rulings from each Madhab and display it
separately but rather it displays it together in a
way which highlights for points of similarities and
differences within rulings on a given issue from a
given contract!
This is a typical search result from the eFiqh
KnowledgeBase.
•
•
•
•
Rulings are extracted from each of the four
Sunni Schools of Thoughts: the Hanafi, the
Maliki, the Shafii, and the Hanbali schools
respectively;
The issues on which those rulings were given
are mentioned in the first column from left;
All rulings are displayed side-by-side from
each Madhab to highlight the points of
similarities and differences within;
Explanation of the rulings are also displayed
so that a complete understanding on the
issue is achieved by the user;
Hanafi
Maliki
A Condition
A Condition
Min. 1 Month
3. Date of Delivery
4. Delivery Location
1. Deferment
Delivery
in
2. Term of Deferment
5. Early Delivery
Shafii
Hanbali
Min. 15 days
Immediately or Later
Same as Hanafi
Price Date Must be
Specified
Vague date such as “until
Harvest Time” is permitted
Same as Hanafi
Agrees with Malikis in one
of their versions
Specify if not easily
portable
Better to Specify
Buyer must accept
6. Failed
Delivery
(Default/
Unavailability)
Not a Condition
Buyer must accept if
object doesn’t spoil
Accept or Reject
7. Goods are Superior
to that Required
[AAOIFI] : Buyer must accept goods unless seller seeks a higher price (Applies when inferior description in contract is
not deemed vital)
8. Goods are Inferior
to that Required
[AAOIFI] : Buyer is entitled to either accept or reject the delivery; if he accepts, discounted price is permissible after
mutual agreement
9. Penalty for
Delivery
[AAOIFI] : Penalty Clause cannot be stipulated in contract
Late
2. The Hanafis and Hanbalis ruled that the term of a Salam should be approximately one
month, since that is the earliest for an item to be considered deferred, and the shortest for
it to be considered forward. The Malikis ruled that the shortest a deferment can be is half a
month, or 15 days. The Shafii School, however, has allowed the Salam if it is completed
immediately or later. The AAOIFI adopted the views of the majority of Jurists and made it
a condition that the delivery of object of Salam should be deferred to a future date.
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
45
WORLD’S FIRST ARTIFICIALLY INTELLIGENT SHARIAH ADVISOR :
“eFIQH KNOWLEDGEBASE” (eFK) – 3
eFiqh KnowledgeBase has been *manually*
designed and developed to deliver intelligent and
powerful search results:
eFiqh KnowledgeBase is made up of:
•
Around 9,000 Fiqh rulings
•
Pertaining to 30 IslamicContracts /Topics
•
From Jurists belongs to 4 Islamic Schools of
Thoughts: Hanafi, Maliki, Shafii, and Hanbali
schools respectively
~9,000
Rulings
30
Contracts
4
Madhabs
eFIQH KNOWLEDGEBASE
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
46
ACTUARIAL MASTERCLASS SERIES (AMS) 2015 TRAINING PROGRAM
Actuarial Masterclass Series (AMS) is designed
and developed for all insurance / Takaful industry
stakeholders, such as Actuaries, Risk Managers,
Underwriters, Claims Personnel, Shariah
Scholars, and other technical practitioners.
There are total 10 workshops part of this
program. These are technical and specialized
workshops aimed at imparting the more practical
and real world tools, techniques, and strategies
for corporate success.
The 10 workshops are as follows:
( I &T = Insurance &Takaful)
1.
2.
3.
4.
5.
6.
7.
8.
Structuring & Pricing of Life I &T Products
Profit Measurement for Life I &TCompanies
Reserving for Non-Life I &TCompanies
Reserving for Life I &TCompanies
Reinsurance / ReTakaful Structures
Enterprise Risk Management for Insurance
AAOIFIStandards & IFSBGuidelines
Key Issues, Challenges, & Opportunities for
Takaful
9. Advanced Excel /Analytics for I &T
10. Risk Based Capital and Dealing w/ Rating
Agencies
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
47
Mr. Farhan Noor
Executive Director – Shariah & L&D
Tajweez Advisory Co. WLL
E: [email protected] / [email protected]
C: +973.351.427.05
P: PO BOX 5475, Manama, Kingdom of Bahrain
W: www.tajweez.com
© Tajweez Advisory Co. WLL | www.tajweez.com | [email protected]
48
Thank You !