Kenya Re is a step closer towards establishing an Islamic window operation after recently appointing its Shariah Board.
Buy Now
Prudential BSN Takaful and Standard Chartered Saadiq have signed a Memorandum of Understanding (MoU) paving the way for an alliance to offer takaful solutions to banking customers.
Buy Now
Syarikat Takaful Malaysia (Takaful Malaysia)’s annualised net profit in the first half of financial year 2012 grew 24.3%, lifted by higher wakalah fees and surplus transfer from its family takaful business.
Buy Now
Oman National Investment Corp (ONIC) Holding is negotiating with a regional Islamic insurer to set up a takaful joint venture (JV) in the Sultanate, and is expected to announce a deal by the end of the year should terms be agreed, a source told local media.
Buy Now
State Life Insurance Corp, the largest insurance company in Pakistan, plans to launch its own brand of takaful products following the recent release of new regulations allowing insurers to operate Islamic windows.
Buy Now
Charles Taylor has finalised plans to acquire a majority stake in Noble Inspection and Loss Adjustment Co (NILACO), a licensed loss adjuster based in Saudi Arabia.
Buy Now
Masraf al Rayan, Qatar’s fourth-largest bank by market value, has launched a subsidiary brokerage firm to buy and sell Shariah-compliant financial instruments for all types of investors, the company said in a statement.
Buy Now
Al Khaleej Takaful has reported a 4% gain in its first half net profit to QAR59 million (US$16.2 million).
Buy Now
Gulf Union Cooperative Insurance (Gulf Union) recently announced the non-renewal of its motor policy agreement with Al Jabr Trading Co – exclusive distributors of KIA motors in Saudi Arabia – starting 19 July, in a statement released on the Tadawul stock exchange.
Buy Now
Abu Dhabi National Takaful (ADNT) has recorded a 23% increase in net profit to AED11.8 million (US$3.2 million) for the first half of the year ended 30 June.
Buy Now
Dubai Islamic Insurance and Reinsurance Co (AMAN), together with FWU Group and Emirates Money, the consumer finance arm of Emirates NBD Group, has launched a Shariah-compliant unit savings plan.
Buy Now
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) registered US$1.1 billion in new contributions in the first half of the year, falling 36% from the same period last year.
Buy Now
One of Malaysia’s largest telecommunications operators, Axiata Group, has joined a growing number of companies using mobile phone airtime to back their sukuk issuance, signalling the latest innovation within the sukuk segment.
Buy Now