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CA-8.2.1

All Takaful firmsG licensed in Bahrain must organise and operate their business according to the al Wakala model. Specifically, in exchange for the provision of management services to participants' fund(s), the shareholdersG of the Takaful firmG must receive a specific consideration (Wakala fee). For the insurance assets invested on behalf of participants' funds, the Takaful operator must use the al Mudaraba model, and must receive a set percentage of the profits generated from the investment portfolio. No performance/incentive fees are allowed to be paid to the shareholders/Takaful operator of the Takaful firmG ; the only fees that can be paid are the Wakala fees and the set percentage of the profits generated from the investment portfolio.

Amended: April 2014
Amended: October 2008
Amended: January 2007
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