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Takaaful T&T Friendly Society 18th AGM Brochure 14

4. Committees

The Committees appointed by the BOM at its first meeting after the AGM are listed in
Table 3 below.

Table 3 Composition of Committees

Committee Members

Education and Marketing Imtiaz R. Ali (Chairman), Ejaz Juman (Secretary), Azim

Committee Ali, Abdullah Pollard, Abdel Ali, Imtiaz B. Ali, Adeeb Ali.

Investment Committee Zafir Ali (Chairman), Asif Khan (Secretary), Aman

Hosein, Omar Gorib, Aziz Mohammed, Abdur Rahman

Mohamed, Ayoub Mohammed, Adeeb Ali and Imtiaz B.

Ali

Waqf Management and Adeeb Ali (Chairman), Ameer Ali (Secretary), Zafir Ali,

Development Committee Omar Gorib, Feroze Mohammed and Imtiaz B. Ali
Farm Committee (Todd’s Aman Hosein (Chairman), Aziz Mohammed, Ayoub

Road) Mohammed, Farouk Khan and Imtiaz B. Ali

House Building Committee Farouk Khan (Chairman), Sheriff Faizool (Secretary),

Abdur Rahman Mohamed, Khazim Ghany, Umardath

Kurban, Rasheed Elahie and Imtiaz B. Ali

5. Products

5.1 Membership (Target – 240 new members)
One hundred and eighty-five (185) new members joined during the year. This is a 77%
achievement.

Table 4 Membership Information

Member Numbers issued Cumulative 2015 2014 2013 -
1699 1515 - 1332 - 1233
New members 4% 1699
Members who died 1% 66 185 1514 1331
Resignations 2% 25 19 183 99
Terminations 18% 31 3 10 3
Inactive members 75% 302 6 5 0
Active members 1275 5 0
1275
1161

5.2 Funeral Benefit Scheme
Participation in the FBS increased by 79 (i.e.7%)
from 1,161 to 1,240. There were 15 claims totaling
$37,500 which resulted in a Deficit of $5,084 i.e.
after deducting Management Fees of $5,342. As a
result, we had to dip into the FBS Reserves to cover
the deficit. The four (4) additional deaths shown in
Table 4 above were inactive members. Strong FBS
reserves, representing 17 claims, as depicted in the