There remains a largely untapped market for Islamic commercial insurance products in the Middle East but buyers need to be persuaded Islamic solutions exist and are a competitive alternative to conventional products

AT THE sixth triannual International Maritime Bureau Meeting on piracy and maritime security in mid-June, industry experts and security officials spoke of the significant decline in piracy in the Malacca Strait — two attacks so far this year against a total of 11 in 2006.

THE Merchant International Group has noted a surge in attacks on shipping off the coast of Somalia and in the Gulf of Guinea in recent weeks.