IslamicFinance.de

Brunei will introduce new guidelines for its takaful sector by June, in order to standardise the way agents are managed by firms. The guidelines will regulate commission rates payable to agents and the qualifications required for them to sell takaful products, Osman Jair, chairman of industry body Brunei Insurance & Takaful Association (BITA) said. An inter-company agreement will be signed, so companies will be better disciplined and the correct treatment of agents ensured. The impending guidelines are being reviewed by industry consultants and Autoriti Monetari Brunei Darussalam (AMBD), the country's central bank.