Oman – OR 42 million Takaful market in 2016
Tuesday, 05 09 2017, Category: Insurance and Reinsurance, Country: Oman
The Takaful insurance market achieved OR 42 millions of contributions in year 2016 representing approximately 9.2% of the total market insurance premiums in year 2016, which reached OR 455 millions. The Takaful market became better regulated after the Takaful law was issued. The Capital Market Authority approved previously this business previously before the new law for two Takaful companies in order to meet the requirements of Islamic finance and the operative needs of Islamic banks in year 2012. This move provided flexibility and eased business.
Source: Al Watan