INDONESIA- TAKAFUL - Sharia insurance to be standardized this year

www.thejakartaglobe.com -The Association of Sharia Insurance of Indonesia (ASII) plans to standardize the sharia insurance sector by releasing sharia insurance policy standards by the beginning of second half of this year.

ASII chairman M. Shaifie Zein said that standardization was needed so that customers had certainty regarding sharia insurance policies.
The regulation will not standardize the pricing of insurance premiums.
“The important thing is to make sure that companies behave appropriately, not to slap them with fixed-price insurance premiums,” he told the press during an international conference on sharia insurance on Monday.
“That's why it's important for sharia insurance companies to have actuaries.” (source)