09 January 2014
MUSCAT -- Al Madina Insurance Company SAOG (Al Madina Takaful), the Sultanate's first takaful insurance services provider, has announced its Wakala and Mudharaba tariffs for the fiscal year ended December 31, 2014.
Operating as the Wakeel of the Policyholders Fund, the company is proposing to charge a Wakala Fee on its net revenue. The aggregate Wakala fee for the year 2014 shall be 20 per cent of the Gross Written Contribution for all contributors' to the general Takaful funds and Family Takaful funds, it said in a filing to the Capital Market Authority.
Operating as the Mudharib of the Policyholders Fund, the company has proposed to charge a Mudharib Fee of 75 per cent of the net profits generated from the investment of the Policyholders Fund.
MUSCAT -- Al Madina Insurance Company SAOG (Al Madina Takaful), the Sultanate's first takaful insurance services provider, has announced its Wakala and Mudharaba tariffs for the fiscal year ended December 31, 2014.
Operating as the Wakeel of the Policyholders Fund, the company is proposing to charge a Wakala Fee on its net revenue. The aggregate Wakala fee for the year 2014 shall be 20 per cent of the Gross Written Contribution for all contributors' to the general Takaful funds and Family Takaful funds, it said in a filing to the Capital Market Authority.
Operating as the Mudharib of the Policyholders Fund, the company has proposed to charge a Mudharib Fee of 75 per cent of the net profits generated from the investment of the Policyholders Fund.
© Oman Daily Observer 2014
