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A report by U.S.-based credit ratings agency S&P Global Ratings Inc. said that the global takaful sector is expected to grow 5% to 10% in 2021, although its contribution to overall industry growth will remain small, Middle East Insurance Review reported. Globally, the Islamic finance industry is expected to record up to 12% growth in 2021-2022 driven by Islamic banking assets growth in Turkey, Malaysia and across some Gulf Cooperation Council nations.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
3. Zurich Insurance to stop underwriting new oil and gas projects
4. Bermudan, European reinsurers to suffer major hit from bridge collapse
5. Tycoon gets death sentence for multi-billion-dollar fraud
6. Inflation drives 10% increase in sum insured for windstorms