Newswrap: Islamic finance
Iran to introduce takaful for Sunni population; AAOIFI, IIFM and IFSB working on risk-free benchmark; Malaysia’s new digital banks not expected to enter mainstream until 2026
Iran to introduce takaful for Sunni population
For the first time Iran will introduce takaful (insurance) for its Sunni population, which is less than 10 million out of the country’s 85 million people. Amin Re has applied for a takaful licence to operate on Kish Island, off the country’s south coast. According to the Financial Tribune, citing Risknews, Amin Re submitted application both to the country’s regulatory body and the Kish Island Free Trade Zone Organisation.
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