The International Federation for Takaful and Islamic Insurance Companies (IFTI) has named Mr Younis J Al-Sayed, Chairman of Bahrain Insurance Association (BIA) and CEO of Takaful International, as Chairman for a two-year term starting this year.
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Egyptian Takaful (Egtak) will distribute EGP11.4 million (US$1.6 million) in surpluses to policyholders, said Mr Alsayed Bayoumi, General Manager of its investment department.
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Following the success of last year's Rendezvous, Asia Insurance Review and the Malaysian Takaful Association are jointly hosting The Takaful Rendezvous 2014 in Kuala Lumpur on 12-13 November.
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Sun Life Takaful and Bank Rakyat are expanding their bancatakaful tie-up with the launch of a new direct and telemarketing channel, which will allow the takaful operator's products to be made available to Bank Rakyat's five million customers throughout Malaysia.
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AIG Re-Takaful (L) Bhd has brought in additional capacity to take on large risks and offer more sophisticated products and services, CEO Idzuddin Zakaria told The Malaysian Reserve recently.
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Al Madina Takaful has reported OMR1.1 million (US$2.9 million) in consolidated net profit for the nine months ended 30 September, a drop of 39% y-o-y, according to preliminary results filed on the Muscat Securities Market.
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The Saudi insurance market continued its strong growth over the first half of 2014 with gross written premium expanding 24% compared with the first half of 2013, according to A.M. Best in a briefing.
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Tanzania has big potential for Islamic finance and it can become an Islamic banking hub for east African countries, said Mr Muhammad Zubair Mughal, CEO of AlHuda Center of Islamic Banking and Economics at the conclusion of a roadshow in Dar es Salaam.
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Dubai-based Takaful Emarat said it plans to double its share capital to AED200 million (US$54.5 million) from the current AED100 million.
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AlHuda Center of Islamic Banking and Economics (CIBE) is planning to organise a two-day training workshop on takaful, to be held on 3-4 November at Dusit Thani Hotel in Dubai.
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