The Reserve Bank of India (RBI) has allowed the Kerala State Industrial Development Corporation (KSIDC) to launch a non-banking financial company (NBFC) offering Shariah-compliant services, including insurance, said media reports.
Buy Now
Canada-based Sun Life Financial has officially begun its takaful and conventional operations in Malaysia following its acquisition of CIMB Aviva Assurance and Takaful entities earlier this year.
Buy Now
Takaful Ikhlas is looking to grow its gross contributions by 20% to MYR900 million (US$270 million) for the current financial year ending 31 March 2014, from about MYR751 million a year ago, said media reports.
Buy Now
Great Eastern Takaful is optimistic of doubling its gross contributions this year, CEO Zafri Abdul Halim told local media.
Buy Now
Al Madina Insurance is planning to float an initial public offering (IPO) in November, as it seeks to change its status to a takaful operator.
Buy Now
The Muscat Securities Market (MSM) has introduced the sample of its Shariah-compliant index, containing 32 listed joint stock companies whose business and financial practices comply with the Shariah principles approved by the Accounting and Auditing Organization for Islamic financial institutions (AAOIFI).
Buy Now
US-based medical insurance provider Aetna has teamed up with The Company for Cooperative Insurance (Tawuniya) to provide new options for Pacific Prime clients in Saudi Arabia.
Buy Now
Saudi Arabia's motor premiums could increase by as much as 10% as providers struggle with rising losses and fraudulent claims, according to experts.
Buy Now
Plans to provide cover for housemaids in Saudi Arabia are expected to be delayed due to the inability of insurance companies to accommodate the large number of individuals.
Buy Now
The Capital Market Authority (CMA) plans to expand the country's Islamic bonds market by making it easier for companies to issue sukuk, said its President at an industry conference.
Buy Now
Amana Takaful has launched a new online product, Travel Pal, catering to both leisure and corporate travellers.
Buy Now
Employers of UAE's privately sponsored 400,000 domestic workers can now insure their employees against illness, accidents, or loss of life with Noor Takaful's Domestic Aid Medical Plan.
Buy Now
Dubai Islamic Insurance & Reinsurance Co (AMAN) has teamed up with Emirates Islamic Bank to launch a motor takaful plan providing comprehensive coverage against loss, damage and third party liability resulting from automobile accidents across the UAE, said media reports.
Buy Now