Al Baraka Takaful being wound up

On 8 January 2014, the Jordanian Insurance commission placed Al Baraka Takaful in liquidation, a decision taken after the proposed restructuring plan of the insurer came to be rejected.
The company had suspended its operations a year because of its inability to meet its legal obligations. Al Baraka Takaful is one of three Islamic insurance companies licensed in Jordan. Arab German, a traditional company had also been forced to stop its activities before it.