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  • BC-3.2 BC-3.2 Restriction on the Use of Terms

    • BC-3.2.1

      The use of the terms 'takaful', 'retakaful', 'general takaful' and 'family takaful' may only be used to describe the products of insurance firms that are Islamic financial institutions within the meaning of the CBB Rulebook.

      Amended: January 2007
      Amended: October 2007

    • BC-3.2.2

      For the purposes of this Module, references to takaful shall be taken as including 'takaful', 'retakaful', 'general takaful' and 'family takaful'.

      Amended: January 2007
      Amended: October 2007

    • BC-3.2.3

      The use of the term 'Islamic insurance' should be avoided and may never be used by a firm not licensed to conduct the regulated activity of takaful.

      Amended: January 2007
      Amended: October 2007