Skip to main content
Entire section Custom print Text Only Rich Text Print

Article (29) Takaful Reinsurance

  1. The company shall ensure that its outbound or inbound Takaful reinsurance business must be compatible with the Takaful insurance basic principles and in pursuance to the directives and decisions of the Shariah Supervision Committee.
     
  2. The company shall cede the outbound reinsurance business to Takaful reinsurance or Takaful insurance companies. In case such companies do not have the adequate capacity, or due to the requirements of distributing the liabilities and risks to a proper number of companies, the company shall have the right to deal with reinsurance companies.
     
  3. The company may share the risk liability with Takaful insurance companies or insurance companies inside and outside the State.