UAE – Promising future for Takaful with compulsory health
Saturday, 09 24 2016, Category: Islamic Insurance, Country: U.A.E
Mr. Wael Al Sharif, the chief executive of Takaful Emarat said that the first financial strength of the company will be issued during year 2017 noting that the company expects to obtain a strong rating in light of the good financial results and profits achieved in the first half of the year. This led the company to repurchase 10% of its stockshares for which it obtain the approval of the general assembly and the official authorities in order to repurchase stocks.
He added in a special interview with “Al Khaleej” that the Takaful insurance sector in the country is growing significantly compared to traditional insurance. People interested in Takaful insurance are exclusively Muslims since this type of insurance earned the trust of the public. Therefore, the number of non-Muslim Takaful contributors increased given the high transparency of Takaful compared to traditional insurance especially at the level of fees, profit-sharing and application of “Sharia principle in commercial, economic and financial activities”.
Source: Al Khaleej