LocationsCapacity increased in Takaful with the support of UNDP
July 1, 2025
The United Nations Development Program (UNDP), in cooperation with the National Agency of Perspective Projects of the Republic of Uzbekistan, conducted a training for the insurance market regulator and insurance sector specialists on the topic “Implementation of the Takaful in practice” with the involvement of an international expert.
Takaful is a system of Islamic insurance based on mutual assistance and cooperation, operating within Sharia principles. It’s a cooperative system where participants pool their resources to support each other against defined risks, rather than relying on a conventional insurance model.
The main goal of the training was to strengthen the knowledge of the insurance market regulator, insurance companies, government agencies, and other relevant representatives of the Uzbekistan insurance industry, both at the public and private levels. To conduct the training, an international expert, Erwin Noekman from Indonesia, was invited, who has extensive experience in Takaful globally. Over the course of two days, the training participants strengthened their knowledge in the understanding of Takaful, including Takaful models, regulatory and Shariah frameworks, contract structures, operational structure, product development, distribution channels and marketing, risk and financial management and other Takaful related topics.
The training was held on June 25–26, 2025, in Tashkent with the participation of more than 40 participants representing the National Agency of Perspective Projects, the Islamic Development Bank Field Representative office, the Association of Professional Participants of the Insurance Market, insurance companies, and other agencies from the government and the private sector.
Positive feedback was received from training participants on the conducted training; it was noted the relevance of the training topic and the knowledge gained with relevant examples based on international practice, an interesting and interactive method of presenting information.
Sanjar Berdiev, Head of the Regional Cooperation Department, “Gross Insurance” LLC: Capacity building is the cornerstone for the development of the insurance industry in Uzbekistan. The Takaful provides a unique and sustainable way to develop and diversify the insurance industry aimed at protecting the people of Uzbekistan from various risks; therefore, the participation in the training was very useful and important for the representatives of the insurance market of Uzbekistan.
Latif Zokirov, Head of Digitalization of Insurance Activities Department, “Alskom” LLC: Insurance is one of the most effective tools for protection from the various risks. Uzbekistan puts an ambitious aim for further development of the insurance market, including diversification of the insurance market by development of Takaful. Participation in the training on Implementation of Takaful gives to the insurance industry important knowledge and indicates the clear way for further development of the Takaful aimed to increase a protection of the people of Uzbekistan from arising risks.
Erwin Noekman, an international expert: It is a big honour for me to conduct a training on Takaful in Uzbekistan. I would like to notice that Uzbekistan has a tremendous potential for the development of the Takaful in the country that will provide sustainable economic growth and additional protection the people of Uzbekistan from various risks. An organisation of the training on Takaful has critical impact as the strengthening capacity and is the crucial first brick that opens the road for further development of the insurance market of Uzbekistan. Development of the Takaful in Uzbekistan requires a step-by-step mutual cooperation and enormous efforts in each step of the long way, both from the government and insurance industry of the country.”
The training was supported within the framework of the UNDP global project “Insurance Risk Finance Facility (IRFF) in Uzbekistan” financed by the German government, the main objective of which is to provide support to countries participating in the project in the development of the insurance market of Uzbekistan, including: integration of insurance policy into the country’s economic development program, development of inclusive insurance, financing sovereign risks, risks from natural disasters, attracting additional investments in the insurance industry, etc.
