Takaful Insurance of Africa (TIA) has announced surplus sharing worth KES15.6 million (US$184,000) from its contribution pool for the year 2012.
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Prudential BSN Takaful (PruBSN) has recorded a 15% increase in new business sales to MYR265.7 million (US$85.9 million) on an Annual Contribution Equivalent (ACE) basis for the financial year ended 31 December 2012.
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Morocco's central bank has started talks with Islamic scholars on establishing a central Shariah board to oversee the country's fledgling Islamic finance industry, a central bank official said.
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Hazard Protection for Insurance Brokerage (HPIB), which started its insurance and reinsurance brokerage activities at the beginning of this year, plans to differentiate itself by focussing on specialty lines, said Mr Zuhair Al Atout, General Manager & Partner of HPIB, and CEO of Apex Insurance.
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Singapore's regulator has reassured the financial sector that despite the lapse of two tax incentives introduced in the 2008 budget, the country is still looking to develop its Islamic finance capability by ensuring a level playing field with conventional financial products.
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Sharjah Islamic Bank (SIB) sold a US$500 million five-year sukuk at tighter pricing than initially indicated due to strong demand for Shariah-compliant debt from the Gulf region.
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The British government has launched the UK's first Islamic Finance Task Force to cement London's status as the western hub for Islamic finance, as the city prepares to host the World Islamic Economic Forum (WIEF) in October this year.
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