Bahrain-based Shariah advisor Shariyah Review Bureau (SRB) has teamed up with London-headquartered training and recruitment services provider Simply Sharia Human Capital (SSHC) to offer the internationally recognised, UK-certified Islamic Finance Qualification (IFQ) across the Gulf region.
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Egypt's Finance Ministry has hailed the consent of Al-Azhar, the country's highest Islamic reference, to the country's sukuk draft law.
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Tokio Marine & Nichido Fire Insurance Co has acquired the remaining 59.99% shares of Nile Family Takaful (NFT) and Nile General Takaful (NGT) for about US$8.7 million, bringing its total stake ownership to 99.9%.
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Takaful Insurance of Africa (TIA), Kenya's only Shariah-compliant insurer, plans to expand its operations into five East African nations, said CEO Hassan Bashir in a recent interview with local media.
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Syarikat Takaful Malaysia's profit after tax and zakat climbed 31% to MYR100.1 million (US$33 million) for the 2012 financial year, due to higher net wakalah fee income.
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Takaful Ikhlas is looking to boost its family takaful business to increase the company's growth and profitability, said President and CEO Ab Latiff Abu Bakar.
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The National Insurance Commission (NAICOM) has issued guidelines for takaful as part of efforts to increase insurance penetration in Nigeria and boost the contribution of insurance to the national GDP.
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Niger Insurance has launched a unit-linked takaful policy aimed at the large Muslim population in Nigeria.
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The Securities and Exchange Commission of Pakistan (SECP) has established a nine-member Shariah advisory board to oversee the application of Islamic finance rules to instruments, including mutual funds, pension funds and takaful.
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International Centre For Education In Islamic Finance (INCEIF) is partnering with Bank Nizwa, Oman's first dedicated Islamic bank, to provide structured training and development initiatives for Omani nationals working in the Islamic finance industry.
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ACE Arabia Cooperative Insurance Co's profit before zakat for the first quarter of 2013 increased 15% y-o-y to SAR6.2 million (US$1.7 million), on the back of falling expenses and increasing investment income and net written premium.
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A Shariah-compliant underwriting agency has been set up at Lloyd's, backed by investment from Capita and Bank of London & Middle East (BLME) as well as capacity support from XL Group.
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Abu Dhabi National Takaful (Takaful) has posted a 61% y-o-y increase in net profit to AED9.9 million (US$2.7 million) for the period ended 31 March 2013.
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