Bahrain – “Central Bank” to issue new regulatory standards
Friday, 11 25 2016, Category: Insurance and Reinsurance, Country: Bahrain
Mr. Abdul Rahman Al Baker, Executive Director of Financial Institutions Supervision at the Central Bank of Bahrain said that the Central Bank is about to issue new regulatory standards for Takaful insurance companies in the Kingdom but he refused to specify the date of issuance of these future standards.
Mr. Al Baker in his press releases clarified that the last standards issued by the bank regarding Takaful were related to solvency capital in the beginning of January 2015.
He revealed that the bank is also studying new licenses for insurance companies, indicating also that the merger between Solidarity insurance and Ahlia insurance is going through legal procedures.
Source: Al Ayam