The Central Bank of the UAE (CBUAE) has suspended Yas Takaful PJSC’s licence under Article 33(2)(k) of Federal Decree Law No. 48 of 2023, which governs insurance activity in the UAE. The measure prohibits the firm from writing new business.
The bank said Yas Takaful remains responsible for obligations tied to insurance contracts entered before the suspension. The action follows regulatory breaches identified by the CBUAE and highlights its enforcement role in maintaining the insurance sector’s legal framework.
