The UAE Central Bank has suspended the licence of insurance provider Yas Takaful after the company failed to meet regulatory requirements.
In its statement, the regulator confirmed that Yas Takaful remains responsible for all rights and obligations arising from contracts signed before the suspension. The bank emphasised its ongoing commitment to ensuring that insurers, their owners, and staff operate in line with national laws and regulations to protect the stability of the financial system.
Founded in 2008 and acquired by Siraj Holding in 2020, Yas Takaful specialises in Sharia-compliant insurance solutions covering health, life, and general needs. The suspension comes amid stricter regulatory measures across the sector, as authorities increase oversight to ensure transparency and accountability in financial and insurance services.
The action reflects broader efforts by the Central Bank to strengthen compliance within the UAE’s insurance and financial industry, following several recent penalties and licence withdrawals against firms that failed to adhere to legal frameworks.
