Wednesday, July 16, 2014

Tunisia’s National Constituent Assembly adopts draft law establishing a regulatory framework for Takaful


IFN Global Forum 2014
61 days to go
Wednesday 16th July 2014
twitter
Daily Cover
TUNISIA: The National Constituent Assembly of Tunisia this week adopted a draft law related to the amendment and finalization of the country’s insurance. The amendment proposed by the draft law paves the way for the introduction of five new chapters that will form the basis of a legislative framework for the country’s Takaful provision.
The five new chapters relate to different aspects of regulation of the Takaful sector, with the first two chapters addressing the way the Takaful system works and the financial management of Takaful operators. The third chapter is dedicated to outlining the necessary data required for the conclusion of a Takaful contract, with the forth tackling the subject of re-Takaful. The final chapter that span from article 201 to article 217 of the insurance code, deals with general provisions for the Takaful system.
Takaful has been available in Tunisia since 1982 with the establishment of re-Takaful operator BEST-RE, despite the lack of a specific regulatory framework. BEST-RE has since been joined by Zitouna Takaful, which has offered both Takaful and re-Takaful products since 2011 and El Amana Takaful, which was established in 2013. In April this year, Nigeria-based reinsurance company Continental Reinsurance opened a regional office in Tunis.
A regulatory framework addressing Shariah compliant banking, Sukuk, Takaful, Waqf and Zakat has been drafted and awaiting the consideration and approval of the Tunisian government since the end of 2012. It is anticipated that the complete Islamic finance regulatory framework will be approved before the end of the year.

Today’s IFN Alerts

IFN Service Providers Poll 2014 - VOTE NOW!



Latest Roundtables
June 2014
May 2014
Dubai Islamic Economic Roundtable Series 2014-2
Dubai Islamic Economic Roundtable Series 2014-1
Events
IFN Global Forum 2014
15th - 16th September 2014
by REDmoney events
IFN Kuwait Forum 2014
29th September 2014
by REDmoney events
IFN Sri Lanka Forum 2014
13th October 2014
by REDmoney events
IFN Africa Forum 2014
4th November 2014
by REDmoney events
IFN Turkey Forum 2014
6th November 2014
by REDmoney events
IFN Saudi Arabia Forum 2014
17th November 2014
by REDmoney events
IFN Egypt Forum 2014
1st December 2014
by REDmoney events

Training
Advanced Sukuk & Islamic Securitization
19th - 21st August 2014 (Istanbul)
by Islamic Finance training
Structuring Islamic Retail Banking Products
25th - 27th August 2014 (Muscat)
by Islamic Finance training
Structuring Corporate Banking Solutions
8th - 10th September 2014 (Dubai)
by Islamic Finance training
Islamic Treasury and Risk Management Products
22nd - 24th September 2014 (Kuala Lumpur)
by Islamic Finance training
Islamic Fund and Asset Management
25th - 26th September 2014 (Kuala Lumpur)
by Islamic Finance training
Advanced Sukuk & Islamic Securitization
10th - 12th November 2014 (Kuala Lumpur)
by Islamic Finance training
Advanced Sukuk & Islamic Securitization
8th - 10th December 2014 (Dubai)
by Islamic Finance training




© Copyright policy: No part of IslamicFinancenews.com may be reproduced in any form by any means, electronic or mechanical (including photocopying, recording or information storage and retrieval) without permission in writing from the publisher.
Contact Us : Call: +603 2162 7800  | Email: subs@islamicfinancenews.com  | Website: www.islamicfinancenews.com | Malaysia Office: Suite 22-06, 22nd Floor, Menara Tan & Tan, 207, Jalan Tun Razak, 50400 Kuala Lumpur, Malaysia | Dubai Office: 3rd Floor, X2 Tower, Jumeirah Lake Towers (JLT), Jumeirah Bay, PO Box 126732, UAE

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.

Related Posts with Thumbnails