Omantribune
Oman Tribune
Omantribune
Omantribune Search News
Web Oman
    Google Search Button
      Tribune
- Oman
- Soccer World Cup
- Other Top Stories
- Middle East
- Business
- Sports
- India
- Pakistan
- Asia
- Europe
- Americas
- Columnists
- Editorial
- Oman Mirror
- Special Features
- Cinema
- PDF Pages
- Weather
- Travel
- Currency Rate
- Hospitals
- Pharmacies
- Services
- Flight Timings
- Museum Timings
Omantribune Home Omantribune About Us Omantribune Advertising Information Omantribune Archives Omantribune Subscribe-Form Omantribune Jobs Omantribune Contact Us
Monday, September 22, 2014  

CMA studying solidarity insurance: Jabri
By Said Al Nabhani

MUSCAT HE Yahya Bin Said Al Jabri, CEO of the Capital Market Authority (CMA), said that the authority is studying solidarity insurance of some nations which has such insurance to take advantage of their experiences as per the Royal Directives of His Majesty Sultan Qaboos Bin Said to establish Islamic banks and allowing commercial banks to open Islamic systems.

Speaking to Oman Tribune, Al Jabri said: “A team of CMA employees will visit a number of countries to review the work mechanism, follow up and supervision systems in some establishments.” He said that the authority will ask some international experts who supervised such systems to help the CMA in setting up the new insurance system in the Sultanate.”

He said that there is continuous coordination with a number of private sector establishment operating at the Sultanate to utilise their opinions and experiences, especially of some foreign companies operating in local market and practicing solidarity insurance in foreign markets.

Jabri said that the CMA aims to get a clear and complete understanding of the new insurance system in order to set the best standards and practices which would be in agreement with the regulations of the Islamic Financial Services Council which is responsible of setting international standards of developing Islamic financial services.

Speaking about insurance, Al Jabri said that solidarity insurance is built on cooperation between a number of participants to face a definite danger.

The insurance company operates as an agent for the participants to administer the insurance account. He added that this insurance is different from the insurance account and contributors’ money and pointed out that outcomes of the solidarity insurance will attract new categories of society.

Oman Tribune
NEWS UPDATES
Oman
Omani photographers steal show at Cologne contest
e-authentication in focus at forum
Shura panel discusses Omanisation in tech sector
173,000 employees covered under Civil Service Law till June 2014
Government wins accolades for human rights record
Youth ambassadors showcase rich diversity in cultural feast at BSM
SQU takes part in 26th EAIE forum in Prague
‘Ultimate DJ’ to be selected on Sept. 25-26
Other Top Stories
Teheran ready to work with West to stop IS rebels
Rival Libya PMs address nation
IS rebels close in on Syrian Kurdish town
Scots ‘tricked’ out of independence
Sierra Leone intensifies fight against Ebola virus
India
Citu’s plan to form unions in IT sector worries Chandy
CBI quizzes PC’s wife in Saradha case
People under preventive detention can vote, says EC
CPI-M socio-economic survey runs into rough weather
JNU, DU poll see shift in trend
Flamboyant bosses’ aura of majesty diminishes
BJP blinks a bit, but says Sena offer too less
Congress willing to offer few more seats, NCP unimpressed
Home ministry works on visa on arrival for US tourists
Modi ‘has clear road map’ to channelise citizens’ immense capabilities
‘Love Commandos’ out to unite couples
Rail passengers can soon order food through SMS
Pakistan
PTI takes U-turn, says Imran met Qadri in UK ahead of stir
750,000 kids to get polio jabs in a day in KP
14 prisoners held at Gitmo, Bagram base released
Baloch target killings drop, missing persons ‘a challenge’
Attempt to smuggle 200 turtles to Bangkok foiled
Dams’ utility in doubt as floods continue
Middle East
Witness in Mursi case among three killed in explosion
Hezbollah fighters killed in Lebanon checkpoint attack
Iran judiciary gives 30 days’ time to block social media
Turkey faces biggest influx of Syrian refugees since war began: UN
Egypt to host Gaza truce talks in days
Black rules roost in Syria IS-held areas
Asia
Ghani to be new Afghan president after unity deal
HK students to boycott classes for a week in democracy battle
Tropical storm Fung-Wong lashes Taiwan, leaves 1 dead
Rajapaksa party faces setback in provincial election
Dotcom accepts poll defeat, says brand was ‘poison’
Japan’s new minister bats for N-power
Business
Sohar Aluminium’s upgraded potline to go on stream by Nov.
G20 to add $2t to global economy, create more jobs
Xbox One launch delayed in China
Oculus unveils virtual reality prototype device
1,500MHz spectrum in India to be made available by 2015
ONGC’s Dahej plant to go on stream by 2015
FDI into India services sector rises to $1.03b
DIFC plans $700m sukuk issue by Oct.
Vibrant Gujarat to get shot in arm
Nissan defections reignite CEO succession debate
GM to introduce Cadillac flagship sedan
SoftBank to gain from Alibaba IPO
Grain crop bounty turns nightmare for US farmers
Europe
Russians march against Kremlin role in Ukraine
Sarkozy blasts rivals, launches campaign to return to power
Wife of British hostage pleads with IS rebels for his release
UK’s Labour woo voters with pledge to raise minimum wage by 25pc
EU Commission not told of any specific threat to Brussels HQ
Don’t use religion to justify violence, says pope
Sports
Hamilton dazzles from pole to post
Oman Racing Team steal show
Promoted Paderborn riding high
Maqbali and Khaliq net hat-tricks in second week
OTA’s monthly junior tournament
Gignac double helps Marseille rout Rennes to go top
Wozniacki loses another final
Weightlifters set new benchmark
Kabaddi, wushu and sepaktakraw retain places
Oman go down to Tajikistan as Palestine top
India settle for bronze in team event
OCA open door to Oceania for indoor games
Japan hand Maldives humiliating 79-0 defeat
Lampard late equaliser stuns Chelsea
Americas
White House intruder is Iraq veteran, was carrying knife
Nasa spacecraft all set to orbit Red Planet
Nun-killer held in Brazil linked to 3 new murders
Thousands crowd NY to march for climate change action
Argentine president ‘received IS threats’
Clashes in Guatemala over road plan kill 8
Los Cabos struggles to remove Odile scars

Sports


International

© 2013 Oman Tribune. All rights reserved. Best viewed in 800 X 600 resolution