The provisions herein apply to all Takaful Insurance Companies, incorporated, or to be incorporated, under the provisions of laws in force in the UAE, in practicing Takaful insurance business, as well as foreign Takaful Insurance Companies licensed to practice their businesses in the UAE, in accordance with the Islamic Shari’ah Provisions.
3.2
Takaful Insurance Companies and their Takaful Insurance business are subject to the Executive Regulation, regulations, instructions, and resolutions issued by the Central Bank and the HSA pursuant to the provisions of Law and this Regulation.