The Central Bank of Bahrain (CBB) is working on revising the existing takaful model to attract new entrants to the local market and better protect consumers, said Executive Director for Financial Institutions Supervision Abdul Rahman Al Baker on the sidelines of an industry conference.
Buy Now
Asia Insurance Review, together with the Malaysian Takaful Association, is organising the first-ever international rendez-vous for the takaful sector as it prepares for the January renewals.
Buy Now
The Malaysian Takaful Association (MTA) has formed a working group to come up with minimum requirements for a retakaful wording to be Shariah compliant, thus shifting from the conventional reinsurance template often used in the market.
Buy Now
Takaful Ikhlas is targetting a 20% rise in contributions from the state of Sarawak for the financial year ending 31 March 2014, from the MYR14.4 million (US$4.5 million) received previously.
Buy Now
Syarikat Takaful Malaysia has partnered with Affin Islamic Bank to provide a Hajj savings account which also includes takaful coverage.
Buy Now
Al Madina Insurance Company will offer 66.7 million shares in an initial public offering (IPO) soon in an attempt to change its status to a takaful firm, in line with a draft regulation requiring such firms to be public listed.
Buy Now
Pak-Kuwait Takaful has partnered with Nokia to cover the handset maker's customers against accidental damage and loss of phone due to snatch theft or armed robbery.
Buy Now
The high degree of market concentration amongst Saudi Arabia's top insurers may force smaller players to merge in order to survive, according to a report by Standard & Poor's (S&P).
Buy Now
Senegal is reviving plans to issue Islamic bonds through a CFA franc 100 billion (US$200 million) sukuk programme to be launched next year, officials said.
Buy Now
The retakaful industry has been identified as one of the sectors to be developed under Dubai's Islamic Economic Strategy, which aims to turn the Emirate into a global Islamic hub.
Buy Now
Kuwait-based retakaful operator Al Fajer Re has received in-principle approval from the Dubai Financial Services Authority (DFSA) to set up a new company, Emirates Retakaful Ltd (Emirates Re), said Mr Mohamed El Dishish, CEO of Al Fajer Re, in an interview with Middle East Insurance Review.
Buy Now
The government of the emirate of Ras Al Khaimah is planning to test the waters for its first sukuk issuance since 2009, taking advantage of stable capital markets to refinance its existing debt, said media reports.
Buy Now
The Islamic Development Bank (IDB) is considering setting up a sukuk programme in Dubai, in what would be the first for the institution in a Middle Eastern country, said news reports.
Buy Now