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  • [ T ]

    • Takaful

      Mutual insurance arrangements that conform to the principles of Shari'a. In a Takaful arrangement, the participants contribute a sum of money as tabarru (donation) into a common fund, which will be used for mutual assistance of the members against specified loss or damage.

      Amended: April 2013

    • Takaful firm(s)

      An insurance company, licensed as such, that carries out its operations in accordance with Islamic principles.

      Added: April 2013

    • Technical provisions

      All provisions or liabilities made by an insurance firms to cover liabilities arising under or in connection with contracts of insurance including (where relevant):

      (a) unearned premiums;
      (b) claims outstanding;
      (c) unexpired risk provisions; and
      (d) any other amounts so described.

    • Tier 1 capital

      Capital resources of an insurance firm of the types specified in Paragraph CA-1.2.8.

      Amended: July 2007

    • Tier 2 capital

      Capital resources of an insurance firm of the types specified in Paragraph CA-1.2.12.

      Amended: July 2007

    • Traditional long term insurance business

      Long term insurance business that is not linked long term insurance business.

    • Trilateral Meeting

      A meeting between a licensee, an appointed expert and the CBB.

      Added: October 2011