Middle East Economic Survey

VOL. XLVIII

No 39

26-September-2005

bahrain

First Shari'a Compliant Reinsurance Firm Launched

Arab Insurance Group (Arig) announced on 19 September the creation of Takaful Re Limited, the first fully Shari'a compliant reinsurance company in the MENA region. Takaful Re, with a $500mn authorized capital and a $125mn issued and paid-up capital, will be incorporated at the Dubai International Finance Center (DIFC). Arig has teamed up with major regional financial...