Takaful Regulations, 2008 · s 10

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s 10

(1)

For the purposes of section 21(2)(a) of the Order, the paid-up share capital of a takaful operator having a share capital unimpaired by losses, shall be-

(a)

in the case of a takaful operator carrying on family takaful business, not less than $8,000,000; and

(b)

in the case of a takaful operator carrying on general takaful business, not less than $8,000,000.

(2)

A takaful operator established or incorporated outside Brunei

Darussalam not having a share capital shall maintain in Brunei Darussalam a surplus of assets over liabilities of an amount not less than the requirements for the minimum amount of paid-up share capital of a takaful operator incorporated in Brunei Darussalam.

(3)

For the purposes of section 54(1)(b) of the Order, the minimum paid-up share capital of a takaful broker shall be $200,000.

(4)

For the purposes of section 57(1)(b) of the Order, the minimum paid-up share capital of an adjuster shall be $100,000.

Professional indemnity takaful.