Bahrain: New takaful rules to promote growth

Source: Middle East Insurance Review | Mar 2015

Changes to Bahrain’s takaful model are being implemented by the Central Bank of Bahrain (CBB) to facilitate the industry’s growth, said Mr Abdul Rahman Al-Baker, Executive Director of Financial Institutions Supervision at last month’s 11th Middle East Insurance Forum.

The new framework was released in October last year.

The objective of modifying the takaful rules is to facilitate faster growth of the business in Bahrain while protecting the interests of all stakeholders. Mr Al Baker also told the Forum that the changes “will attract new entrants to the market and will foster competition for the betterment of the consumers”.

The work towards revising the existing takaful model is “one of these initiatives in reaffirming Bahrain as the jurisdiction of choice for all the takaful/ retakaful companies globally”, he added.

Comment | Print

Name*

Email*

Comment*

Code Verification*

Enter the code shown above in the box below.

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.