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Bermuda: ‘Obvious’ hub for Islamic finance

Posted on 18 April 2011

Bermuda’s efforts to establish itself as a global leader in the Islamic re/insurance sector — known as Takaful — are an economic priority for the island. Business Bermuda CEO Cheryl Packwood said the island is intent on leveraging its position as a dominant regional financial and business hub to attract new, Shari’ah-compliant business from the Islamic world.
“Bermuda is the world’s number one reinsurance domicile, and it is only natural for us to layer Takaful (insurance) and reTakaful (reinsurance) on top of this,” she said………………………………………Full Article: Source

 
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