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Islamic Finance Briefing - Categorized | Compliance, Tax, Legal, Regulatory, Insurance (Takaful) more

Kenya freezes new Takaful licenses

Posted on 13 January 2012

Kenya has frozen the licensing of new Takaful companies until a proper law to regulate them is completed. The move offers an unexpected boon to Kenya’s existing Takaful firms, who can now grow unimpeded by new competition.
However, the regulator’s strategy risks losing its position as the leading IF hub in East Africa to neighbors Tanzania and Uganda, who have put no such restrictions on new local and foreign firms entering their markets………………………………………..Full Article: Source

 
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