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Consultant submits draft law for Islamic takaful insurance

Posted on 06 August 2012

The UK-based law firm Clifford Chance, which was appointed by the Sultanate’s insurance regulator Capital Market Authority (CMA), has submitted its draft law for forming Sharia-compliant takaful insurance firms and sukuk debt instruments, said a top-level CMA official.
The rules for takaful insurance companies is going to be a new set of law, while amendments will be made in Capital Market Law to accommodate Islamic debt instruments like sukuks, Abdullah bin Salem al Salmi, executive president of CMA, told Times of Oman, in an exclusive interview………………………………………..Full Article: Source

 
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