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It was founded in 2006 as an insurance company. [1] In 2014, the Capital Market Authority granted Al Madina a takaful license. [1] Al Madina then converted all its insurance business to become Sharia-compliant and became the first takaful company in Oman. [2] After the conversion, Al Madina embarked on acquisitions to expand its operations.
A list of countries by health insurance coverage. The table lists the percentage of the total population covered by total public and primary private health insurance, by government/social health insurance, and by primary private health insurance, including 34 members of Organisation for Economic Co-operation and Development (OECD) member countries.
National Life & General Insurance Company SAOG. (Arabic: الشركة الوطنية للتأمين على الحياة والعام; NLG Oman) is an insurance company in Oman. NLG Oman, part of the Ominvest Group [1] retained its leadership position as the top insurer in Oman in terms of gross written premiums in 2019. [2]
Sukoon Insurance previously known as Oman Insurance Company (Arabic: شركة عُمان للتأمين "سكون" ش.م.ع) is a composite insurance company headquartered in Dubai, UAE that sells insurance for individuals and businesses in UAE and Oman. [2]
Salama Islamic Arab Insurance Company (Arabic: الشركة الإسلامية العربية للتأمين) also known as Salama is one of the largest and most established providers of Shariah-compliant Takaful [1] solutions globally.
Arabian Shield Cooperative Insurance Company sells insurance products including motor, marine, property and medical insurance. In addition, the company also provides claim settlement services to its policyholders. Its customer base includes the private individuals and also the corporate clients. [1]
In 2005, health insurance was made compulsory for all non-Saudi nationals working in the country under the Cooperative Health Insurance Act. [5] [6] In 2008, this act was extended to include Saudi nationals working for the private sector. Enforcement of this compulsory coverage include fines for non-compliant companies and a refusal to renew ...
Takaful (Arabic: التكافل, sometimes translated as "solidarity" or mutual guarantee) [1] is a co-operative system of reimbursement or repayment in case of loss, organized as an Islamic or sharia-compliant alternative to conventional insurance, which contains riba (usury) and gharar (excessive uncertainty).