Al Madina Takaful Secures Category 'A' Health Insurance License Under Oman's New Regulatory Framework
Muscat – Al Madina Takaful, Oman's pioneering Shariah-compliant insurance provider, proudly announces its attainment of the Category 'A' Health Insurance License under the Sultanate's newly established regulatory framework. This significant milestone, granted by the Financial Services Authority (FSA), empowers Al Madina Takaful to independently underwrite and manage health insurance policies, positioning the company at the forefront of Oman's evolving healthcare insurance landscape.
The introduction of the Category 'A' licensing framework by the FSA aims to enhance regulatory oversight, improve service quality, and increase premium retention within the Sultanate. Al Madina Takaful's early adoption of this license underscores its commitment to aligning with national objectives and delivering superior, Shariah-compliant health insurance solutions to its clients.
'Securing the Category 'A' license is a testament to our unwavering dedication to excellence and our proactive approach in embracing regulatory advancements,' said Usama Al Barwani, CEO of Al Madina Takaful. 'This achievement enables us to offer comprehensive health insurance services that cater to the diverse needs of our policyholders, all within the framework of Islamic principles.'
As one of the licensed medical insurers in Oman, Al Madina Takaful is poised to play a pivotal role in the Sultanate's health insurance sector. The company's robust infrastructure, experienced team, and customer-centric approach ensure that it is well-equipped to meet the growing demand for quality health insurance services.
Al Madina Takaful remains committed to innovation, transparency, and excellence in service delivery, reinforcing its position as a trusted partner in Oman's insurance industry.
Established in 2006, Al Madina Takaful is the first Takaful company in Oman, offering a range of Shariah-compliant insurance products and services. With a focus on customer satisfaction and ethical practices, the company continues to lead the way in providing innovative insurance solutions that meet the evolving needs of its clients.
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