The introduction of measures aimed at updating and expanding the rules on takaful (sharia-compliant) insurance in Bahrain is expected to aid the segment’s efforts to make inroads into the market share currently held by conventional insurers.
Bahrain saw its first Islamic policy writer open its doors in 1989, well ahead of most of its Gulf neighbours and Asia. But while the Kingdom has been developing itself as an insurance and takaful centre for the region, more could be done to strengthen its position, such as developing its human resources pool through advanced training programmes, according to Abdul Rahman Al Baker, the executive director of financial institutions supervision at the Central Bank of Bahrain (CBB)………………………………………..Full Article: Source