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
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
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
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.
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
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
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
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.
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,
The Kuala Lumpur-based Islamic Financial Services Board (IFSB) has published guidelines on capital adequacy for Islamic banks and risk management of takaful, or Islamic insurance, as the industry body expands its activity and membership base.