Monday, 06 December 2021 05:00 GMT

UAE: Islamic insurance provider agree to an all cash transaction


(MENAFN) State news agency WAM reported that a Dubai stock-listed provider of Islamic insurances has approved to purchase Al Hilal Takaful from Al Hilal Bank, pushing the establishment of a major takaful group in UAE.

Takaful Emarat has reportedly settled to obtain, in an all cash transaction, Al Hilal Takaful from Al Hilal Bank located in Abu Dhabi.

The report indicated that the Insurance Authority of UAE has provided its initial approval of the deal joining together a couple of "complementary takaful businesses."

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