The European Bank for Reconstruction and Development (EBRD) has given its initial approval to contribute to the launch of an Egyptian family takaful insurance company.
Indonesia's Islamic insurance industry is expanding three times as fast as Malaysia's, prompting AIG and Sun Life Financial to seek a broader presence in the nation.
Takaful Malaysia registered a profit before zakat and taxation of MYR188 million (US$50.8 million) for the year ended 31 December 2014, up 8.2% y-o-y due to lower management expenses, commissions and expense reserves.
Nigeria's federal government has inaugurated an advisory council for the implementation of takaful as part of ongoing reforms in the insurance sector.
A draft Takaful Insurance Law has been approved by the State Council, in line with recommendations made by the Majlis al-Shura, or Consultative Assembly.
The Saudi Arabian Monetary Agency (SAMA) has approved the surplus distribution policy for insurance and reinsurance operations, the financial regulator said in a statement.
Amana Takaful, the only fully-fledged takaful operator in Sri Lanka, has announced the transfer of its life insurance business to Amana Takaful Life Limited.
Turkey's Doga Group plans to enter the takaful market in the next few months with what may be the country's first such product.
Arabian Scandinavian Insurance Co (Ascana Insurance) has converted its operations from conventional to takaful.
Dubai-headquartered Takaful Emarat has posted a net profit of AED7.2 million (US$2 million) for 2014, turning around from its AED17.3 million loss in 2013, thanks to a re-engineering and restructuring of operations and distribution infrastructure, said Chairman Mohamed Ali AlSari.
Dubai Islamic Insurance & Reinsurance (Aman) recorded a net profit of AED2.2 million (US$598,941) in 2014, from its net loss of AED52.8 million in the previous year.
Abu Dhabi National Takaful Company (ADNTC) has ended its 2014 financial year with a net profit of AED35.8 million (US$9.7 million), marginally higher than the previous year's level of AED35.2 million.