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Location: Central Bank of Bahrain Volume 3—Insurance > Part A > Business Standards > BC Business and Market Conduct > BC-3 Takaful Firms > BC-3.3 Marketing and Promotion
  • BC-3.3 Marketing and Promotion

    • BC-3.3.1

      An insurance firmG may only offer takafulG products if it is licensed to do so. An insurance intermediaryG may offer both conventional insurance and takafulG products but must provide clear information to enable consumers to make informed choices.

      Amended: October 2007

    • BC-3.3.2

      Any comparison between takafulG and conventional insurance products must draw the customer'sG attention to the principal differences between these products. These differences may include:

      (a) Whether there is a contractual right to claims or benefits or whether these are discretionary on the part of the firm;
      (b) The basis on which benefits and surpluses are allocated to, and between, policyholdersG and participants; and
      (c) Whether there is any future liability of policyholdersG (or participants), individually or collectively, for deficits in the policyholders'G (participants') funds.
      Amended: January 2007
      Amended: October 2007

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