Please answer ALL (30 marks) Section A Question 1 Ustaz Haris, a Shari'ah compliance officer in Ithar Family Takaful Co, conducted a monthly Shari'ah review process. He discovered some inconsistencies which may invoke Shari'ah and operational issues in product structures and operations. Among his findings were: a) The management decided to share 60% of surplus with takaful participants b) The management ceded 100 percent with reinsurance company c) For product using wakalah contract, the management decided to share the profit from investment with takaful participants d) There is a case where a customer requested to subscribe to a takaful plan for building used for human trafficking e) The management decided to offer family takaful product together with general takaful product Top management decided to distribute 3% of return received from Wakalah- Mudharabah in Waqt Model investment for a mosque development Advise Ustaz Haris on the measures that he should take to address the above issues. State your suggestions in the light of Islamic Financial Services 2013, BNM Takaful Operational Framework 2012 and other relevant Policy Documents, Standards or Guidelines governing Takaful practices. (6 x 5 marks) [Total: 30 marks! Please answer ALL (30 marks) Section A Question 1 Ustaz Haris, a Shari'ah compliance officer in Ithar Family Takaful Co, conducted a monthly Shari'ah review process. He discovered some inconsistencies which may invoke Shari'ah and operational issues in product structures and operations. Among his findings were: a) The management decided to share 60% of surplus with takaful participants b) The management ceded 100 percent with reinsurance company c) For product using wakalah contract, the management decided to share the profit from investment with takaful participants d) There is a case where a customer requested to subscribe to a takaful plan for building used for human trafficking e) The management decided to offer family takaful product together with general takaful product Top management decided to distribute 3% of return received from Wakalah- Mudharabah in Waqt Model investment for a mosque development Advise Ustaz Haris on the measures that he should take to address the above issues. State your suggestions in the light of Islamic Financial Services 2013, BNM Takaful Operational Framework 2012 and other relevant Policy Documents, Standards or Guidelines governing Takaful practices. (6 x 5 marks) [Total: 30 marks