AIG UK said on Thursday it had underwritten its first sharia-compliant warranty and indemnity policy out of London’s M&A insurance market, as the city looks to Islamic finance to help bring new business. Development of Islamic finance is accelerating in …
Malaysia’s Islamic insurers are seeking to double policyholders in five years by investing more in digital technologies to attract a younger audience, according to the industry association’s head. Takaful operators should also step up educational campaigns to boost customers to …
Willis Group Holdings announced that in “response to growing demand from property investors for insurance cover that is compliant with Islamic law it has launched the UK’s first Shariah compliant commercial real estate insurance.” Willis said the coverage “offers real …
The International Islamic Financial Market is working on common templates for structuring sukuk to reduce delays caused by disagreements between Shariah scholars. The standards-setting body is drafting frameworks starting with leasing contracts known as Ijara, Chief Executive Officer Ijlal Ahmed …
The Malaysian law that exposes Shariah scholars to jail terms for rule breaches will ensure tighter compliance, in a market where the regulator has already made progress in unifying standards. Under the Islamic Financial Services Act 2013, which took effect …
Dubai is launching a drive to develop its Islamic business sector, aiming to attract fresh investment from the Middle East and south-east Asia, the emirate’s ruler said on Wednesday. The government will promote Islamic banking and insurance, Islamic financial products …
