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

Article (2) Scope of Applicability

  1. The provisions herein shall apply to all Takaful insurance companies, incorporated or to be incorporated under the laws in force in the State so as to practice Takaful insurance business, as well as foreign Takaful insurance companies licensed to practice their businesses in the State, which are managed and doing the business in accordance with the Islamic Shariah provisions.
     
  2. The provisions herein shall not apply to the companies operating in the free zones, except as otherwise provided for in the free zone laws and regulations.
     
  3. As to matters not provided for herein, Takaful Insurance companies and their Takaful Insurance business shall be subject to the implementing regulations, bylaws, instructions, and resolutions issued by the Insurance Authority pursuant to the provisions of Law.