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Oman's CMA conducts survey over proposed insurance law
- Oman: Wednesday, September 19 - 2012 at 09:35
Oman's market regulator has surveyed the opinions of insurance companies, auditing firms and legal consultancy offices on the contents of the primary draft of the Takaful Insurance Law, Oman Daily Observer has reported. The Capital Market Authority (CMA) said it researched and studied the legislative, audit and procedural tools related to the finance tools that are compatible with the tenets of the Shari'ah and prepared the initial draft for the regulations that regularise the tools of the capital market and insurance. The Takaful Insurance Law was drafted to start Islamic banking in the country's banking sector, which requires long term Islamic funding tools and Takaful insurance.
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