SABB Takaful News

Saudi Arabia’s central bank is preparing tougher rules for insurance companies as part of a drive to create a smaller number of stronger market players operating in the country, two people with direct knowledge of the matter told Reuters. A …

Saudi Arabia’s financial regulator has stopped Sharia-compliant insurer SABB Takaful from issuing or renewing insurance or savings products, citing weaknesses in the firm’s internal controls. The Saudi Arabian Monetary Agency (SAMA) has also asked the company to appoint a consultant …