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Pakistan: Islamic insurers agree to end dispute with regulator

April 18, 2014 - 6:00am


Islamic insurers in Pakistan have agreed to settle out of court for their dispute over Takaful Rules 2012, reports The Express Tribune.

Announcement of the rules two years back was followed by disputes between takaful firms on one side and the regulator and conventional insurers on the other, with takaful firms saying the rules will "distort" the Islamic insurance sector. One of the key areas of dispute was rules governing paid-up capital.

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