In this meeting where Dr. Mohammad Mahdi Asgari, CEO of IRC, participated, the research project titled “Identification and Prioritization of Takaful Development Drivers in Iran” estimated to be implemented in a six-month period, was thoroughly evaluated and approved by the Council members.

The research project is intended to exploit the qualitative method of the grounded theory in order to explore “the most significant drivers of the takaful development in Iran”. Fuzzy Analytic Hierarchy Process (FAHP) will be used as the prioritization approach of the proposed research project.

The study is an attempt to deal with the fundamental questions regarding the major drivers of the takaful development and to give priority to the drivers based on the extent to which they may have an impact on the policymaking and operations.

The expected outcomes of the study are to identify the most significant factors contributing to the development of takaful in Iran insurance industry and to prioritize the major drivers of the takaful development based on the current Iran insurance ecosystem from the domestic and foreign experts’ perspectives.

It must be noted that another proposed project on the use of AI algorithms for identifying insurance fraud was presented, but was not prioritized in the agenda of the Council.