Brunei will introduce new guidelines for its takaful sector by June to standardise the way agents are managed by firms, reported Reuters.
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Kenya's financial regulator has proposed a separate regulatory framework for Islamic financial institutions as part of a 10-year strategy to boost capital markets.
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Arab Loss Adjusters (ALA) is setting up the first Shariah-compliant claims-adjusting service provider this month in Malaysia, says Mr Walid Jishi, Chairman and Managing Director in an interview with Middle East Insurance Review.
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Takaful Malaysia, which saw its net profit rise by 37% in 2013, expects earnings this year to be further boosted by its aggressive cash-back payout policy and higher take-up of its products.
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Malaysia's Securities Commission said it plans to introduce guidelines for the issuance of "socially responsible" sukuk.
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Saudi Arabia has decided to make health insurance mandatory for foreigners visiting the Kingdom.
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Takaful is still at its early stages in Tunisia but is expected to account for 10% to 12% of the market in five years, said Mr Ali Hammami, President and Director General of the newly launched takaful operator, Assurance At-Takafulia (Takafulia), at the 2nd Takaful Network Seminar in Khartoum, Sudan in late February.
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Standard & Poor's Ratings Services (S&P) has lowered its long-term counterparty credit and financial strength ratings on Dubai Islamic Insurance & Reinsurance Co (Aman) to 'BB+' from 'BBB-' and placed them on CreditWatch with negative implications.
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Abu Dhabi National Takaful Company has reported a net profit of AED35.2 million (US$9.6 million) for 2013, representing a surge of 30% compared to AED27.1 million during 2012.
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Watania generated gross contributions of AED129 million (US$35 million) in 2013, an increase of 193% y-o-y.
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