From Arabianbusiness.com: About five new companies offering Islamic insurance, or takaful, are expected to launch in the UAE by mid 2011, boosting competition, industry executives said on Monday. There are now six takaful companies in the UAE with a seventh to be launched in the first quarter of 2011.
“At least four to five companies have applied for licences and they could launch initial public offerings (IPOs),” Ezzeldin Elmassry, chief operating officer of Abu Dhabi National Islamic Finance (ADNIF), said……………………………………….Full Article: Source