Sultanate’s first full-fledged Islamic insurance launched
Shaikh Abdulmalik bin Abdullah al Khalili, Minister of Justice, has officially launched the first full-fledged Islamic insurance in the country called Takaful Oman, in the presence of Sayyida Rawan Ahmed al Said, Managing Director and CEO of Takaful Oman Insurance Company, Ahmed Ali al Mamari, Acting General Manager, Directorate of Insurance Supervision, CMA, and a number of dignitaries and senior executives from various sectors at the InterContinental Muscat. Al Madina, which has a customer base of 37,000 policy holders, expects the market to grow between RO60 million to RO70 million in worst case scenario and RO150 million to RO180 million in best case scenario in the next three to five years.
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