Developing the Strategy Document for the Takaful Alliance

Introduction :

Developing the Strategy Document for the Takaful Alliance

The Takaful Alliance is an initiative led by UNDP’s IRFF aiming to address the urgent need for enhanced financial resilience for communities with significant Muslim populations, particularly those vulnerable to a diversity of risks. The Takaful Alliance operates at the intersection of sustainable development, Islamic finance, climate resilience, and financial inclusion. By leveraging the network, expertise and financial resources of its partners, it strives to make a substantial impact on the landscape of risk management by introducing a collaborative public and private platform that drives the development of the Takaful insurance model. The vision of the Takaful Alliance is to deliver financial resilience to 100 million people by 2030.

Assignment Overview and Objectives

The IRFF is developing a programme strategy for the Takaful Alliance to articulate all the different structures and interventions that are necessary to drive the development of Takaful models.

The assignment will be carried out in a close collaboration and consultation with the IRFF technical team and includes:

• · Delivering the Strategy Document for the Takaful Alliance as a multistakeholder platform working towards the development of Takaful as a protection mechanism of Muslim populations. The strategy should include:

o   Situation analysis in terms of active global and regional stakeholders and initiatives

o   Conceptualization of the key lines of work and implementation structures

o   Outlining of the roles and responsibilities of different sets of partners

o   Governance and financing mechanisms.

• · Developing a value proposition for the different global, regional and country stakeholders of the Takaful system.
• · Establishing a learning agenda for the Takaful Alliance in terms of the necessary research, data and evidence.
• · Coordinating an external validation session jointly with the IRFF team and existing members of the Takaful Alliance.

Note that the assignment is not to come up with a final recommendation for the setting up of the Takaful Alliance, but rather providing a set of options for discussion with the Alliance’s interested parties and stakeholders. These options should be considered for their advantages and disadvantages and should consider a set of informal and formal potentials.

This exercise will build up on existing knowledge documents by UNDP (Insuring and Sustainable Future: Building Climate Resilience through Takaful, Market Development Recommendations for Takaful, and Regional Diagnostic on Insurance and Risk Finance for the Arab States), as well as any other documents by other relevant organizations and stakeholders.

Scope of Work

• Detailed breakdown of tasks and responsibilities. This may include, but is not limited to:
• Develop an inception report that outlines the approach to collect information, identify relevant stakeholders and analyze this information with the final objective of developing a Strategy Document for the Takaful Alliance.
• Draft a consultation paper for the Takaful Alliance that lays out the initial ideas for the strategy and can be shared with stakeholders and facilitate the process for the Strategy development.
• Map regional and global Takaful stakeholders to understand the current landscape of initiatives and activities that are active on supporting Takaful development.
• Identifying providers, initiatives and projects that are active in the implementation of Takaful programmes in a sample of countries.
• Carry out a needs assessment of providers, initiatives and projects of Takaful programmes in terms of knowledge and evidence, technical assistance, financing, etc.
• Interviews with key stakeholders to be validated jointly with the IRFF team.
• Develop the Strategy Document for the Takaful Alliance based on the process and the different information sources, setting forth a set of options across structure, governance, roles and responsibilities
• Identify key participants for the validation session to finalize the consultation paper and foster the engagement for the strategy. The format of this session will be validated with the IRFF team and the organization and logistics do not need to be budgeted.

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Deadline :

07-May-24 @ 10:00 AM (New York time)

UNDP-HQ – SWITZERLAND

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