The sentiment in the takaful market has noticeably changed over the last 24 months. The focus has shifted from headlines about the rapid growth of the sector to instead concentrate on concerns about return on equity and the challenges arising from competition, lack of scale and access to talent. In the United Arab Emirates recent regulatory changes are likely to exacerbate these concerns in the short to medium term. But for the takaful operators who are capable of adapting there remain significant opportunities.