Consolidation is the way forward for the takaful industry, which is in need of a proper regulatory body to oversee enforceability of rules. “Any young industry always begins with mushrooming of various businesses,” Ernst and Young Islamic Banking Excellence Centre head Ashar Nazim told the Gulf Daily News, our sister publication.
“They experiment with various business models. However, there comes a time when a choice has to be made on what works best for the industry,” Nazim observed………………………………………..Full Article: Source