International Association of Insurance Supervisors

IFSB issues Microtakaful regulation draft

The Islamic Financial Services Board (IFSB) has issued the Exposure Draft of its joint paper with the International Association of Insurance Supervisors (IAIS). The ‘Issues in Regulation and Supervision of Microtakaful (Islamic Microinsurance)’ paper has been issued for public consultation until August 6, a statement said. It has invited comments from regulatory and supervisory authorities, international organisations, market players, academics and other interested parties, it said. The main objective of the Joint Paper is to highlight and identify regulatory issues prevailing in the Microtakaful sector and outline the role this sector can play in enhancing financial inclusion.

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