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

SECP’s directive to insurance, Takaful cos

Posted on 04 August 2010

From Thenews.com.pk: The Securities and Exchange Commission of Pakistan (SECP) has directed all the registered insurance and Takaful companies to deposit their share of Insurance Ombudsman Secretariat costs in the Ombudsman account before August 13.
For the purpose of sharing the cost of the Insurance Ombudsman’s Secretariat for the period from July 1 to June 30, 2011, the commission has set a formula, according to which every insurance and Takaful company would contribute Re0.09 per every thousand rupees of 2009’s gross direct premium written or contribution received in Pakistan……………………………………….Full Article: Source

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