Yahsat secures first-ever Shariah compliant space insurance
(Emirates News Agency UAE) April 7, 2010
Al Yah Satellite Communications Company has successfully secured the first ever Shariah compliant space insurance policy. The insurance solution, which was specifically developed to meet Yahsat’s needs, covers the launch and in-orbit operations of Y1A and Y1B, the Yahsat scheduled to be launched in 2011. The uniquely crafted insurance solution was a seamless fit with the innovative technology, deep regional insights and fresh approach that Yahsat will bring to the markets and the customers that it will serve. "Insurance protection is an integral part of our satellite program. With firm roots in the region, we are proud to be the first organization to use a new Shariah-compliant insurance solution for space programs," said Jassem Mohamed Al Zaabi, CEO,
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