Legends of Takaful Podcast: Prof. Dr. Engku Rabiah Adawiah Engku Ali

"The main thing is to be able to ask the correct question" - Prof. Dr. Engku Rabiah Adawiah Engku Ali

Prof. Dr. Engku Rabiah Adawiah Engku Ali, a renowned Shariah scholar, educator, and thought leader has played a pivotal role in shaping the Islamic finance landscape in Malaysia and beyond.

?She has served on the Sharia committees of numerous banks and Takaful operators, guiding them in developing products that adhered to Islamic principles while meeting market needs.

Dr. Engku later joined the Shariah Advisory Council (SAC) of Bank Negara Malaysia (BNM), where she continues to contribute her expertise to shaping the regulatory framework for a thriving and ethical Islamic financial system.

Dr. Engku’s credentials are truly impressive. She holds a PhD in law from the University of Aberdeen and has received numerous awards for her contributions to Islamic finance, including the "Most Outstanding Individual Contribution to Islamic Finance". She is widely recognized as a leading expert, consistently ranked among the top women in Islamic finance globally.

In this interview she shares her journey into Takaful, her thoughts and experiences, and offers advice for future practitioners of takaful.

?This episode is hosted by Hassan Scott Odierno, Senior Partner and Actuary at Actuarial Partners.

Watch the episode on YouTube here:

Listen to the episode on Spotify here:

Timestamps:

0:00:00 – 00:04:19 Introduction

00:04:20 – 00:11:39 Journey to becoming a Shariah advisor

00:11:47 – 00:14:51 Working with different banks as Shariah advisor

00:14.54 – 00:17:00 Islamic Banking: the Interaction between the principles of shariah and the Issues tabled

00:17:00 – 00:20:10 Tax laws and the application to different products

00:20:10 – 00:23:00 Understanding the Shariah law from the Banking perspective

00:23:01 – 00:30:57 Differences between Banking and Takaful products

00:30:58 – 00:39:52 About Bank Negara Malaysia and Shariah boards

00:39:53 – 00:43:13 Exposure of Shariah Scholars on Takaful

00:43:14 – 00:46:15 Role of the Actuary in Takaful

00:46:16 – 00:50:37 Challenges faced by female scholars

00:50:38 – 00:54:28 Ways to spread awareness on Takaful

00:54:29 – 00:56:47 Takaful vs Islamic Banking

00:56:48 – 01:02:10 Understanding the value propositions

01:02:12 – 01:06:00 Advice and suggestions for practitioners for the future

01:06:00 – 01:09:35 Advice for the young

01:09:35 - End

Dr. Engku will also be at the Legends of Takaful Conference on the 9th of December. She will be a panelist on the session titled: "Takaful models and the role of training and development"

The session aims to discuss the development of the various Takaful models in Malaysia as well as the role of training and development in building a successful Takaful industry.

Seats are still available. Please download the brochure here: