Insurance News ME

Maybank, Jeddah’s ICD sign MoU on global takaful business

KUALA LUMPUR: Malayan Banking Bhd (Maybank) is exploring setting up an international takaful holding company with Jeddah-based Islamic Corporation for the Development of the Private Sector (ICD).

EFU plans to expand across Asia

KARACHI: The Eastern Federal Union (EFU) has planned to expand its business activities across Asia. EFU Managing Director Saifuddin N Zoomkawala stated this at a programme, organised by the 21st Century.

Pakistan - MoU signed for Shariah complaint insurance services

Al Barka Islamic Bank and Takaful Pakistan Limited signed a Memorandum of Understanding (MoU) here on Friday to provide all kinds of Shariah complaint insurance services or to the Al- Barka Islamic Bank and its consumers.

IGI Insurance launches new plan - Pakistan

IGI Insurance Ltd had launched its Home Cover plan, making it the latest addition to the line of insurance products it currently offers to its customers.

Pakistan - PM widens scope of insurance schemes (Foreign Business Travellers Insurance, Crop Insurance and Micro Insurance for low-income borrowers)

ISLAMABAD: Prime Minister Shaukat Aziz here on Thursday approved three crucial insurance schemes, namely, Foreign Business Travellers Insurance Scheme, Crop Insurance Scheme and Micro Insurance Scheme for low-income borrowers.

Qatar-Pakistan insurance firms elect Sheikh Ali as chairman

DOHA: The first meeting of the board of directors of the newly formed Pak-Qatar Family Takaful Company and the Pak-Qatar General Takaful Company has elected Sheikh Ali bin Abdullah al-Thani as chairman of both the companies.

Islamic Finance On The Upswing

Islamic finance is on the upswing in the Middle East-Gulf-Pakistan-Asia region, a two-day Asia Finance Conference observed, and industry sources say the future potential is massive.

Pak-Qatar Takaful Group commences family and general Takaful business in Pakistan

Having received their licenses from the Securities and Exchange Commission on the 16th of August 2007, Pak-Qatar Family Takaful Limited and Pak-Qatar General Takaful Limited have commenced Takaful business in Pakistan.

DIFX eyes possible stake in Pakistan exchange

The Karachi Stock Exchange has received interest from a number of foreign bourses eyeing a minority stake in Pakistan's largest bourse, including the Dubai International Financial Exchange (DIFX), according to reports.

Razi-ur-Rahman Khan, Chairman of Securities and Exchange Commission of Pakistan, told Reuters that companies from the Middle East and Europe have inquired about taking a stake in the Karachi bourse.