ABU DHABI : The UAE Central Bank has suspended the licence of Yas Takaful for failing to comply with the country’s regulatory framework.

In a statement issued on Monday, the regulator confirmed that the company remains responsible for all rights and obligations arising from insurance contracts concluded before the suspension.

The Central Bank stressed that, under its supervisory and regulatory mandate, it is committed to ensuring that all insurers, their owners, and staff fully comply with UAE laws, regulations, and standards, with the aim of safeguarding the integrity of the insurance sector and the wider financial system.

Yas Takaful, formerly known as Al Hilal Takaful, was established in 2008 and later acquired in 2020 by UAE-based private investment firm Siraj Holding. The company provides Sharia-compliant takaful solutions, according to its website.