According to PRAIO-IRC, in the MOU ceremony held at the AAUI office in Jakarta, Indonesia, Dr. Mohammad Mahdi Asgari, CEO of IRC, Budi Herawan, Chairman, Heddy Agus Pritasa, Vice Chairman for Members & Institutions Cooperation Affairs, Bern Dwyanto, Executive Director of AAUI and Carolyn Baytion Sunaryo, Executive Director of ASEAN Insurance Council, participated.
In his keynote speech, Dr. Asgari, CEO of IRC, introduced IRC, its structure, academic staff, and major activities and gave a brief report on the new move of the government to implement takaful in the country.
He called for AAUI to conduct relevant courses in Tehran or Dubai for Iran insurance industry practitioners.
The CEO of IRC also gave a briefing on the development of Islamic banking and insurance and the newly established Islamic Jurisprudent Council of the Insurance Industry. He also hoped for the foundation of the first specialized takaful company in Iran in the present year.
Dr. Asgari asked his counterparts to send their proposal for a short-term training course in either online or face-to-face modes.
Referring to covering catastrophes and its crucial role in Iran, he invited the CEO and top officials of AAUI to participate in the annual conference of Iran insurance industry in the coming December that one of its major themes would be natural disasters.
The CEO of IRC also talked about the other similar international relationships IRC had been establishing with the Malaysian institutes including INCEIF University and IIUM and emphasized on the Islamic countries to be more self-reliant in the insurance business.
In his keynote speech, Budi Herawan, Chairman of AAUI, appreciated IRC for its endeavors to have relationship with AAUI and reported that Indonesia was to introduce Shariah-compliant and conventional products side by side in the market.
He also highlighted the cooperation in the forms of B2B, government-to-government or regulator-to-regulator in order to ease the transfer of knowledge and expertise between the two countries.
Chairman of AAUI said that the insurance and takaful status of Iran and Indonesia were similar and AAUI was doing several studies on catastrophes and that would be a mutual theme that both entities could work together.
He also referred to the three-day conference that AAUI was to hold in the coming month in Bali, Indonesia and invited IRC officials to participate in the event and to get acquainted with the Indonesian market.
After the keynote speeches of the top officials of both entities, the CEO of IRC and Chairman of AAUI as representatives of their affiliated institutes signed the MOU and wished for further cooperation in future.
It must be noted that the Indonesian General Insurance Association (AAUI) is an organization founded by the Indonesian Insurance Council (DAI) which oversees general insurance companies and reinsurance companies in Indonesia.
AAUI currently has 82 members, consisting of general/casualty insurance companies and reinsurance companies (72 insurance companies & 7 reinsurance companies, and 3 extraordinary members), and has 32 branches spread and operating throughout all regions in Indonesia. AAUI is an organization that carries out all its business on a non-profit basis and always complies with all applicable legal provisions.
AAUI's financial sources come from membership fees which consist of registration fees for new members and annual fees which consist of basic fees and tiered fees from AAUI members whose amounts are determined at the general meeting of members, business and other receipts that are valid and do not conflict with the objectives and AAUI goals.