CBUAE prohibits takaful insurer from issuing new insurance contracts

ABU DHABI, 2nd October, 2024 (WAM) -- The Central Bank of the UAE (CBUAE) prohibited a takaful insurer operating in the UAE, from issuing or concluding new motor and health insurance contracts (including renewals), pursuant to article 33 of Federal Decree Law No (48) of 2023 Regarding the Regulation of Insurance Activities (the Insurance Law).

The insurer remains liable for all rights and obligations arising from