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Takaful tag returned 373 results

  • Qatar: Takaful sector increases contributions by 5.5% in 2019

    The contributions generated by the five takaful companies operating in the domestic market in Qatar amounted to over QAR1.29bn ($355m) in 2019, representing growth of 5.5% compared to the previous year, according to an analysis by Bait Al Mashura Finance Consultations.

    Middle East | 01 Oct 2020
  • Turkey: Finance Minister upbeat about growth of participation insurance

    Minister of Treasury and Finance Berat Albayrak has said that international standards in the field of participation finance will be complied with and participation insurance will be expanded.

    Middle East | 30 Sep 2020
  • Saudi Arabia: Reinsurer receives Shariah certificate, boosting credentials in retakaful sector

    Saudi Re, the sole reinsurance company in Saudi Arabia, has received a Shariah certificate for its offerings from the Shariyah Review Bureau (SRB).

    Middle East | 22 Sep 2020
  • UAE: Dar Al Takaful pays out interim cash dividends

    A general assembly of Dar Al Takaful has approved the distribution of cash dividends for 1H2020 amounting to AED4.9m ($1.3m), equivalent to about 3.3% of the company's capital for the first half of the current year.

    Middle East | 16 Sep 2020
  • UAE: Takaful operations show flat revenue growth in 1H

    Growth in contributions for takaful operators in the UAE stagnated in 1H2020, declining by 1% to hover at around AED2bn ($544m), according to a report published by Dubai-based actuarial consulting firm Badri Management Consultancy.

    Middle East | 15 Sep 2020
  • Nigeria: Call for review of takaful guidelines

    The Guidelines for Takaful Insurance in Nigeria are overdue for review and reform to make the industry more effective and robust, according to Mr Abdullah Abdulrasaq, a lecturer in the Department of Islamic Banking, Insurance & Finance at the Islamic Finance College, Ilorin Kwara State.

    Africa | 14 Sep 2020
  • Algeria: Islamic insurance to be launched

    Algeria will for the first time launch Islamic insurance, as the government seeks to boost the country's Islamic finance industry, reported Reuters quoting Finance Minister Ayman Benabderrahmane.

    Middle East | 09 Sep 2020
  • Global: IFSB & Islamic Development Bank sign grant agreement

    The Jeddah-headquartered Islamic Development Bank (IsDB) and the Kuala Lumpur-based Islamic Financial Services Board (IFSB) yesterday signed a Technical Assistance (TA) Grant agreement for the Final Review of the 10-Year Framework and Strategy Project for the Islamic financial services industry. The TA is planned to be implemented up to 31 December 2021.

    Middle East | 08 Sep 2020
  • UAE: Islamic insurer gains nearly US$11m from sale of stake in Saudi takaful company

    Islamic Arab Insurance Company (Salama), the UAE's largest and oldest Shariah compliant Takaful solutions provider,has generated AED 39.45m ($10.74m) net profit from the sale of some of its stake in Salama Cooperative Insurance Company, a Saudi joint stock company.

    Middle East | 03 Sep 2020
  • Sri Lanka: Insurance sector seen as recovering more rapidly than expected

    The insurance industry is recovering much more quickly than expected from the impact of the COVID-19 pandemic, said Amana Takaful Life CEO Gehan Rajapakse at an event held last week, ahead of 1 September which is National Insurance Day in Sri Lanka.

    Asia | 02 Sep 2020