( Sukuk.net) The Chief Executive Officer at Malaysian Islamic insurer Takaful Ikhlas said that the company is in talks to sell its products in the Middle East and North Africa (Mena), Gulf News reported. The company, a subsidiary of insurer MNRB Holdings, will apply for a license to allow it to set up an international currency business unit, the head of Takaful, he told the Business Times newspaper. An international currency business unit allows Islamic insurers to do Islamic insurance and reinsurance business with non Malaysian residents in foreign currencies, he said. It is worth mentioning that Global premiums in Islamic insurance, or takaful, currently total about $2-3 billion and are expected to reach more than $7 billion by 2015, according to industry figures. [END] ` omar1.1 mfn
|
