Wednesday 1 October 2014
 
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Takaful

GCC takaful contribution to hit $8.9 billion this year

GCC's gross takaful contribution is estimated to reach around $8.9 billion in 2014 from an estimated $7.9 billion last year, according to a new report. Global Takaful Insights 2014, the latest report from EY, a multinational p

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Watania wins approval for 60.53pc stake sale

Abu Dhabi-listed Islamic insurer National Takaful Company (Watania) said on Tuesday that UAE regulators had approved the sale of 60.53 percent of the firm to MB UAE Investments and an affiliate of MB. In a bourse filing, Watania s

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Ratings boost for Solidarity Takaful unit

Solidarity General Takaful, a subsidiary of the largest takaful groups in the world, Solidarity Group Holding, was assigned financial strength rating of B++ (good) and insurer credit rating of "bbb" by AM Best, both with a stable outlo

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Takaful industry in focus at Dubai forum

Leading industry players, thought leaders and key regulators in the international Takaful (Islamic insurance) industry will discuss key challenges for operators at a conference in Dubai next month.   The ninth an

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Consolidation push paying off for Bahrain banks

The Central Bank of Bahrain (CBB) has encouraged banking consolidation, which to date has resulted in the merger of 10 banks, creating stronger and well-capitalised financial institutions, said CBB Governor Rasheed Al Maraj. Al Ma

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Kuwait's takaful firms struggle in crowded market

Kuwait's first Islamic insurer was born 14 years ago, but its takaful firms are still struggling in a crowded market that faces cut-throat competition. This has led to stagnant growth and persistent losses for takaful firms op

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Bahrain draws up new Takaful model

Bahrain will have a new takaful model by the end of the first quarter, said a top regulatory official. Central Bank of Bahrain executive director for financial institutions supervision Abdul Rahman Al Baker said changes to the exi

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Ithmaar inks key Takaful agreement with Solidarity

Bahrain-based Islamic retail lender Ithmaar Bank said it has signed a MoU with largest Takaful group Solidarity to offer its premier members exclusive insurance rates. With this deal, Ithmaar Premier members can now enjoy discount

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Bahrain aims for new business with takaful, sukuk rules

Bahrain's central bank will release a new regulatory framework for Islamic insurance (takaful) this quarter, in an overhaul of standards which the regulator hopes will attract new business in a sector it helped to pioneer. The

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Omani company enters takaful market

Oman has seen the birth of its first Islamic insurance (takaful) firm as two others prepare to enter the market, hoping to gain an edge in the sultanate's crowded insurance sector. This month Oman's eighth largest insurer,

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