Islamic reinsurance moves to displace use of conventional finance

April 26, 2015 7:25 AM

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April 26 (Reuters) - Islamic reinsurance (retakaful) is getting a face-lift because of new entrants and a widening market for sharia-compliant insurance products, helping move the industry away from long-standing reliance on conventional reinsurance lines.

Takaful is a bellwether of consumer appetite for Islamic financial products; its largest markets include Saudi Arabia, the United Arab Emirates and Malaysia.

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