YAS Takaful license suspended by UAE Central Bank

The Central Bank of the United Arab Emirates (CBUAE) has suspended the license of YAS Takaful, formerly known as Al Hilal Takaful.

The decision was made following the company’s failure to comply with regulatory requirements governing the UAE’s insurance sector.

Despite the suspension, YAS Takaful remains liable for all rights and obligations stemming from insurance contracts issued prior to the license suspension.