Feb 16 2011
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New listing for Maldives Stock Ex
Amana Takaful is the Maldives subsidiary of Sri Lanka's Amana Takaful Insurance and is a fully fledged licensed operation in the country. The operation was first established in 2003 in alliance with HMS Maldives, an exporter of tinned and vacuum-packed seafood.
If the application is successful Amana Takaful will be the first foreign-owned Shari'ah compliant company on the tiny exchange, which has a total of four companies listed at present.
Amana Takaful launched in the Maldives in 2004 after receiving a license from the Maldivian Insurance Authority and is now one of the largest players in the Maldivian insurance sector.
In conjunction with Malaysia Takaful, Amana Takaful started its Sri Lankan operation in 1998 by offering General Takaful (fire Takaful, household Takaful, personal accident Takaful, burglary Takaful, money Takaful, mobile Takaful, motor Takaful, and travel Takaful), Medical Takaful and Family Takaful.
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