IslamicFinance.de

Qatar’s low insurance penetration is “a revealing factor” of great opportunities, Qatar Central Bank Governor HE Sheikh Abdullah bin Saud al-Thani has said. The country’s current level of penetration is around 0.5% of GDP and 1.6% as share of the insurance as part of the global business sector, Sheikh Abdullah said in his keynote address at the ninth MultaQa conference. Asserting that it is the desire of Qatar to reduce reliance on energy, Sheikh Abdullah, who is also the chairman of the Qatar Financial Market Authority and the Qatar Financial Centre Regulatory Authority, said the country’s insurance sector has been undergoing significant evolution and is in the process of establishing a committee for supervision of risk management.