Global sukuk issuance is expected to rise to about $140bn-$155bn this year from $139.8bn in 2020, thanks to a recovery in issuance in Malaysia, Indonesia, and the GCC countries, according to S&P Global Ratings.
Islamic Arab Insurance Company (Salama), the UAE's largest Shariah-compliant insurer, has appointed Mr Fahim Al Shehhi as the company's new CEO with effect from 13 January 2021.
Turkish Finance Minister Lutfi Elvan has said that the government will take concrete steps to move the insurance and private pension industry forward.
SALAMA Islamic Arab Insurance Company, the UAE's largest and oldest Shariah-compliant insurer, has adopted a new brand identity, including a new logo, to mark its 40 years of success, and highlight the company's strategic ambitions.
Listed insurance companies in Oman show an increase in net profit of 52% to OMR35m ($91m) for the first nine months of this year, compared to OMR23m for the corresponding period in 2019.
Amana Cooperative Insurance announced yesterday that its board of directors have recommended slashing the company's capital by 45.83% to write off accumulated losses.
Bank Negara Malaysia (BNM) has released an exposure draft seeking to promote more innovative, sustainable and inclusive insurance and takaful business models.
The board of directors of Dubai Islamic Insurance & Reinsurance Company (Aman) have given the nod to a new three-year growth plan.
Aljazira Takaful Taawuni and Solidarity Saudi Takaful have received the approval of the Saudi Central Bank (SAMA) for their merger. The approval was granted on 30 November 2020.
Although the recent performance of insurance companies in Saudi Arabia has been rather tame, the sector presents long-term investment opportunities, says a report released by the Islamic Research and Training Institute (IRTI) of the Islamic Development Bank (IsDB) Group.