Takaful News - Bahrain: Aman Secures Insurance Licence
Source: Middle East Insurance Review | Mar 2007
Dubai Islamic Insurance and Reinsurance Co (Aman) has obtained a licence from the Central Bank of Bahrain (CBB) to establish Aman Bahrain Insurance Company with a paid-up capital of US$20 million.
The other principal founders and shareholders of the new entity are Al Salam Bank Bahrain, Al Salam Bank Sudan, and several regional companies and businessmen.
Aman’s Chairman, Mr Sultan Saeed Al Mansouri, was quoted as having said: “The Gulf region is witnessing unprecedented economic growth, making it a safe haven for investment. In particular, the Bahrain market has shown a high demand for Islamic takaful insurance as indicated by feasibility studies, and this was the main reason that encouraged us to establish an Islamic insurance company in Bahrain.”