Photo: CBUAE
The Central Bank of the UAE (CBUAE) has prohibited a takaful insurer operating within the UAE from issuing or concluding new motor and health insurance contracts, as well as from renewing existing contracts. This action was taken due to the insurer's failure to meet the minimum capital requirements set by the CBUAE.
Stay informed with the latest news. Follow DXB News Network on WhatsApp Channel
In response to this situation, the CBUAE has provided the insurer with a six-month period to address its solvency issues and to comply with the regulatory directives issued by the bank.
The CBUAE, in its supervisory and regulatory capacity, is committed to ensuring that all insurance companies, along with their owners and staff, adhere to the laws, regulations, and standards established by the CBUAE. This is aimed at protecting policyholders and maintaining the integrity of both the insurance sector and the overall financial system in the UAE.
#CBUAE #Takaful #InsuranceRegulations #UAEFinance #PolicyholdersProtection #InsuranceSector #FinancialCompliance #Solvency #UAE #headlines #topstories #globalUpdate #dxbnewsnetwork #dxbnews #dxbdnn #dxbnewsnetworkdnn #bestnewschanneldubai #bestnewschannelUAE #bestnewschannelabudhabi #bestnewschannelajman #bestnewschannelofdubai #popularnewschanneldubai
The 2024 Flag Garden, featuring 11,600 flags depicting Sheikh Zayed and Sheikh Rashid, opens for UAE Flag Day on November 3 and Eid Al Etihad on December 2, run...Read More.
This discussion occurred during Minister Fouad's attendance at the Conference of the Parties to the United Nations Convention on Biological Diversity (COP16) he...Read More.
DigiHealth: World’s Largest Gathering for Digital Health Launches in Dubai from September 8-10, 2025
Eric Prydz Brings His Groundbreaking HOLO Show to Dubai for the First Time
Dubai is set to experience a groundbreaking fusion of music and technology as world-renowned DJ Eric
7 Emirates" Art Exhibition, curated by the highly regarded Jesno Jackson
Ratan Tata: A Legacy of Leadership and Kindness
Brand Dubai Launches 11th Flag Garden Edition for #ZayedAndRashid Campaign
The 2024 Flag Garden, featuring 11,600 flags depicting Sheikh Zayed and Sheikh Rashid, opens for UAE Flag Day on November 3 and Eid Al Etihad on December 2, run
Egypt, Global Environment Facility Engage in Talks Over Funding Matters
This discussion occurred during Minister Fouad's attendance at the Conference of the Parties to the United Nations Convention on Biological Diversity (COP16) he
UAE Government Annual Meetings Set to Begin in Abu Dhabi Tomorrow
The 2024 UAE Government Annual Meetings will begin tomorrow in Abu Dhabi, under the chairmanship of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice Pre
Egypt Aims to Enhance Urban Greening and Promote Environmental Sustainability
Egypt is implementing various initiatives to shift towards a green economy across all sectors, particularly in housing and utilities, while enhancing green mech
Hamdan bin Mohammed Reviews AED16 Billion RTA Main Roads Development Plan
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, reviewed RTA's transformative initiatives designed to enhance urban mobili
Egypt and Somalia Explore Strengthening Agricultural Cooperation Efforts
Egypt's Minister of Agriculture and Land Reclamation, Alaa Farouk, met with Somalia’s State Minister for Agriculture, Asad Abdulrazak Mohamed, to discuss enhanc
China to Host World Free Zones Organization Annual Congress in 2025
The World Free Zones Organization announced during its visit to Hainan Province, China, that the country will host the 2025 Annual World Congress. A memorandum
‘Bedaya’ Initiative Services Reach 86.2 Million, Strengthening Community Support
Egypt’s Minister of Health and Population, Khaled Abdel Ghaffar, announced that the presidential initiative "Bedaya – A New Beginning for Building the Human" ha
Israeli Airstrikes in Gaza Claim 23 Lives Amid Intensified Northern Offensive
Palestinians described the recent aerial and ground offensives, coupled with forced evacuations, as "ethnic cleansing." They believe these actions aim to depopu
Dubai Press Club Unveils New Initiative for Content Creators in Dubai
The Dubai Press Club (DPC) has launched the ‘Dubai Content Creators Programme,’ a new media training initiative designed to equip emerging talent with advanced
© DNN. All Rights Reserved.