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

SECP passes orders against takaful, insurance cos

Posted on 08 May 2013

The Securities and Exchange Commission of Pakistan has passed three orders against a takaful company for not complying with the provisions of the Insurance Ordinance, 2000, and the Companies Ordinance, 1984, in which one of the orders relates to the interpretation of the exemption given under Proviso to Section 187(h) of the Companies Ordinance, 1984.
Moreover, the insurance division of SECP has also passed an order against a Life Insurance Company under Section 130(2) of Insurance Ordinance, 2000, as a result of adjudication of an appeal against the order of the federal insurance ombudsman………………………………………..Full Article: Source

 
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