The UAE Insurance Authority (IA) has finally issued new regulations relating to life insurance and family takaful insurance which will introduce a 4.5% commission cap on the sale of lump sum portfolio bonds or offshore bonds. The landmark legislation - which has been mooted across the last four years - has now been signed but it still needs to go through the Official Gazette after which there will be a six-month implementation period for it to take effect. The final draft is similar to the previous edition: according to Draft Board of Directors' Decision Pertinent to Regulations for ...
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