The Securities & Exchange Commission of Pakistan (SECP) has issued guidelines for investors dealing in Shariah-compliant investments through the Pakistan Stock Exchange (PSX).
The Saudi Central Bank has approved the merger of SABB Takaful and Walaa Insurance, according to statements lodged by the two companies with Tadawul.
The Securities and Exchange Commission of Pakistan (SECP) has formed a consultation committee to assist in the preparation of a plan and roadmap for the development of Islamic finance.
The general insurance industry in Pakistan generates a total annual premium of PKR133bn ($615m), of which takaful accounts for around 10%, indicates Mr Rizwan Hussain, the managing director and CEO of Salaam Takaful.
Overall gross written premiums of insurance companies increased by 3% to OMR479.85m for the year 2021 compared with OMR465.89m for the previous year, according to data released by the Capital Market Authority (CMA) last week.
The introduction of digital insurers and takaful operators (DITOs) will help narrow critical protection gaps in Malaysia, says RAM Ratings.
Listed insurance companies in the Sultanate of Oman saw an increase in the weighted average loss ratio to 68% in 1Q2022 from 65% in 1Q2021, as the increase in claims outpaced the increase in premium income, despite improved pricing practices among the insurers, notes Badri Management Consultancy, an international actuarial consulting company.
Asuransi Allianz Life Indonesia ( Allianz Life) plans to spin off its Shariah business unit next year.
Dar Al Takaful (DAT) and Watania announced yesterday the completion of their merger effective on 1 July 2022 pursuant to the merger plan announced on 3 March 2022, and after meeting all required regulatory and shareholders' approvals.
Life insurer La Marocaine Vie has launched its new wholly-owned takaful subsidiary called Al Maghribia Takaful that is licensed to carry out family takaful, investment takaful, and general takaful operations.