Takaful growth expected to slow owing to tighter regulations
Increasing regulations across all sectors in response to implementation of risk-based capital requirements and consumer protection measures are set to hamper growth in the global takaful industry, according to the Global Takaful Report 2017. The paper also highlighted that in the Gulf Cooperation Council (GCC) countries particularly, there is "significant pressure" on companies in an increasingly competitive marketplace.

A slowdown in growth is expected in the global takaful industry in the short term due to tightening of regulations across all jurisdictions, particularly in the GCC, as regulators increase their focus on consumer protection and the implementation of risk based capital (RBC), according to the Global Takaful Report 2017 released by actuarial and consulting firm Milliman at the 12th World Takaful Conference in Dubai on Tuesday.