The Central Bank of Bahrain (CBB) has issued guidance on the issuance of securities and sukuk in the country, aimed at enhancing the Kingdom's capital market.
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Islamic bonds will be treated like other securities and regulated accordingly, a move which does away with the sukuk law passed by ousted President Mohamed Morsi last year.
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Takaful Ikhlas has signed a memorandum of understanding (MoU) to provide the healthcare card programme, Medi-Sihat, for about 40,000 teachers.
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AIG Malaysia is set to venture into the retakaful business within the first quarter of this year, having recently obtained regulatory approval to establish a retakaful company, said new CEO Antony Lee.
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The Group Takaful Rakyat 1Malaysia (i-BR1M) scheme will be implemented through a consortium of takaful operators, said media reports citing the Ministry of Finance (MoF).
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AMMB Holdings, the holding company of the Malaysia's fifth-largest banker, has agreed to sell its life insurance and family takaful businesses to MetLife in a deal worth MYR812 million (US$247 million).
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Al Madina Takaful has started issuing takaful policies since 1 January 2014, with all existing policy agreements being replaced by takaful policy agreements with effect from this date, said the company in a disclosure filing.
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Takaful Oman Insurance's share listing has been postponed from 2 January 2014, as it could not complete certain procedures on time.
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The Oman government is planning to float OMR200 million (US$520 million) worth of sovereign sukuk in the domestic market this year, partly to meet the projected budget deficit, said local media reports.
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Saudi Arabia is making unemployment insurance and insurance for government vehicles mandatory, moves that are expected to boost the market.
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The Ministry of Social Affairs has signed a cooperative insurance agreement with Bupa Arabia to provide free medical covers for 3,000 orphans of different ages, Arab News reported.
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