Regulatory Alerts2025-07-04
Takaful Licensing Regulations 2025
The Central Bank of Somalia has issued the Takaful Licensing Regulations 2025 to mandate comprehensive licensing for all entities conducting Takaful operations and intermediary services within the country. The framework establishes strict application procedures, minimum capital and security deposit thresholds, Shariah governance standards, and standardized fee structures for operators, retakaful providers, and digital intermediaries. It enforces operational compliance through mandatory license displays, annual renewals, and substantial penalties of up to USD 100,000 or three years imprisonment for unlicensed activities.
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