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TA-3.1.11

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 takaful fund(s), the shareholdersG of the takaful firmG will receive a specific consideration (wakala fee). For the insurance assets invested on behalf of takaful funds, the takaful operator will use the al mudaraba model, and will receive a set percentage of the profits generated from the investment portfolio.

Rulebook Reference CA-8.2.1
Amended: January 2007
 Versions
(2 Versions)
 
Up to Jun 30 2007Jul 1 2007 onwards
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