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U.A.E.'s regulator the Insurance Authority has issued draft regulations that permit local insurers to cede risks to foreign reinsurers and do not impose a minimum retention limit, Middle East Insurance Review reported. The regulations stipulate that local insurers can cede their risks only to reinsurers that meet minimum classifications as issued by accredited bodies such as U.S.-based Moody's Investor Service Inc. Additionally, takaful insurers can obtain reinsurance only from the takaful operations of a reinsurer.