Plan to Launch Iran's First Takaful Insurance Company

Amin Re, a leading reinsurance company in Iran, has applied for permission for starting Iran's first Takaful insurance company in Kish Island. 
According to Risknews, Amin Re submitted application both to the Central Insurance company of Iran, the regulatory body of the industry, and the Kish Island Free Trade Zone Organization, whose permission is also mandatory for establishment of companies in the Persian Gulf island. 
The move was welcomed by insurance authorities, and Amin Re is likely to get the approval for offering Islamic insurance services in Iran.