Bahrain – Takaful sector faces limited Sukuk market
Monday, 05 15 2017, Category: Islamic Insurance, Country: Bahrain
Mr. Abdul Rahman Al Baker Executive Director of Financial Institutions Supervision at Central Bank of Bahrain said that the Islamic Takaful industry faces the challenge of a small market share and the unavailability of a diversified Islamic investment instruments, indicating that the only available investment type is the “Sukuks” despite the high liquidity that Takaful companies have. Therefore, Takaful companies look for investment opportunities in parallel with the increase in the demand for Sharia-compliant insurance.
Moreover, Mr. Al Baker said in a statement to the media at the margins of a seminar organized by “Deloitte” yesterday that there is a need to unify Islamic standards for Takaful insurance investments such as “Qard Hasan” and other items.
Source: Al Ayam