An ancient principle of mutual solidarity has found a modern form. Meet takaful, the ethical insurance model that is quietly reshaping how people around the world manage risk. Most people who hold an insurance policy (whether for their car, their home, or their life) understand the basic transaction. You pay a premium. The insurer takes...
If you think actuaries are just number crunchers working behind the scenes in insurance companies, think again. While insurance remains a significant field for actuaries, their expertise in risk assessment, data analytics, and financial modelling is becoming indispensable in various industries. From healthcare to climate change analysis, actuaries are stepping into roles that impact decision-making...
The insurance industry has long relied on paper-based processes, but with the rise of digital technologies, insurers are transitioning to paperless environments to stay competitive. This shift offers several benefits but requires careful planning and execution to be fully realised. The Need for Digital Transformation in Insurance Traditionally, insurers have used legacy systems and paper...
In today’s world, it’s easy to get swept up in the whirlwind of tasks and demands, especially when every email, meeting, or Slack notification is screaming for your attention. But here’s the thing: Success isn’t about doing everything, it’s about doing the right things, at the right time, with the right focus. Prioritisation is the...
When people hear about IFRS 9, their first thought is often, “That’s something banks deal with.” But in reality, IFRS 9 — the standard that governs how financial instruments are measured and reported — impacts almost every kind of business. Whether you’re running a retail chain, a manufacturing company, or a growing start-up, chances are...
Nature is not just a backdrop to human existence. It is the foundation that sustains life, balances the climate, and shields us from environmental threats. However, the increasing frequency of natural disasters highlights the immense strain on this foundation. From raging wildfires to devastating floods, climate change, deforestation, and human encroachment have intensified geophysical risks,...
When IFRS 16 came into effect, it significantly changed how companies account for leases, bringing most leases onto the balance sheet. For many businesses, this shift was more than a simple accounting change; it was an operational challenge. Whether you’re managing a handful of office leases or a large, diverse lease portfolio across regions, navigating...
Climate change is no longer a distant threat. It is a pressing, systemic risk with the potential to affect every aspect of our lives. From extreme weather events to rising costs and economic disruption, the impacts are far-reaching. Among the many areas at risk is the security of pension systems, which underpin the financial well-being...
Share-based payment schemes have become a popular way for companies to reward and retain their top talent. Whether it’s through Employee Stock Option Plans (ESOPs), Long-Term Incentive Plans (LTIPs), or other equity-linked benefits like RSUs and Phantom Stock Plans, these offerings must be properly accounted for under IFRS 2. At SHMA, we support businesses in...
When we think of great leaders, we often picture visionaries: people who inspire, innovate, and drive change. But what truly sets exceptional leaders apart isn’t just intelligence or technical skills — it’s Emotional Intelligence (EQ). A leader can have the best strategy, but if they lack the ability to understand and connect with people, they’ll...