Oman: Regulator may issue takaful rules this year
Source: Middle East Insurance Review | Apr 2019
Executive regulations governing takaful activities are currently being finalised and could be issued this year, according to Sheikh Abdullah bin Salem Al Salmi, the executive president of the Capital Market Authority (CMA).
He said the new regulations, currently under review by the Ministry of Legal Affairs, will help spur the growth of an already thriving takaful industry, reported Oman Daily Observer.
Mr Al Salmi said the takaful industry posted premiums totalling OMR53.16m ($8.21m) last year, representing 11.4% of total conventional and Islamic insurance premiums.
Two takaful operators are currently licensed in the local market. M
OMR1 = $2.60