18 hours ago
CBUAE suspends the licence of YAS Takaful
18 Aug 2025 10:25
ABU DHABI (ALETIHAD)The Central Bank of the UAE (CBUAE) has suspended the licence of YAS Takaful pursuant to Article 33(2)(k) of Federal Decree Law No. (48) of 2023 regulating insurance a statement announcing the decision, the CBUAE said: 'This action comes as a result of YAS Takaful's failure to comply with the regulatory framework governing insurance companies in the UAE.'The regulator clarified that YAS Takaful remains responsible for all rights and obligations arising from insurance contracts concluded prior to the suspension.
Through its supervisory and regulatory mandates, the CBUAE said it works to ensure that all insurers, their owners and staff comply with UAE laws, regulations and standards to safeguard the integrity of the insurance sector and the wider financial system.
Source: Aletihad - Abu Dhabi
