Manama: Bahrain has a long established presence as a leading international Islamic financial services centre, strengthened through the well-established regulatory framework and high levels of commitment to research and training in the Islamic finance industry.
This was stated by Younis J Al Sayed, Chairman, Bahrain Insurance Association during the opening of the two-day METF 2014 on Monday being held at the Gulf Hotel.
“The regulatory regime has provided a key structural backdrop required for the Takaful industry in Bahrain to establish itself and for Bahrain to become the leading insurance hub of the region. The Bahrain Insurance Association which has 48 members comprising of local insurance companies, foreign insurance companies, reinsurance, brokers and service providers is delighted to be a strategic partner at the 3rd Annual Middle East Takaful Forum 2014 (METF 2014). METF 2014 will provide the perfect setting for discussions that will determine the key factors required to take the industry to the next level of development,” he added.
The METF Exhibition, which was held along the sidelines of the conference, was inaugurated by Abdul Rahman Mohammed Al Baker, Executive Director Financial Institutions Supervision at the Central Bank of Bahrain and showcased the latest products, services and innovations in the regional Shari’ah-compliant insurance industry.
METF 2014 continues on the 14th of October and features high-profile sessions addressing solvency, legal and risk management priorities for the Middle East Takaful industry. Day 2 of METF 2014 will also feature interactive roundtables on key areas including governance, transparency, Shari’ah frameworks, and asset management approaches in the regional Takaful industry.