UAE Central Bank suspends licence of YAS Takaful

The Central Bank of the UAE (CBUAE) has suspended the licence of YAS Takaful for its failure to comply with the regulatory framework governing insurance companies in the country.

The authority said YAS Takaful remains liable for all obligations arising from insurance contracts concluded before the suspension.

The CBUAE, through its supervisory and regulatory mandates, works to ensure that all exchange houses, their owners and staff abide by the UAE laws adopted to safeguard the transparency and integrity of the UAE financial system.