Takaful insurance

According to the regulatory authority (NAICOM), the new directives pertaining to takaful insurance will be published before the end of September 2012. The development of takaful insurance is likely to substantially increase the insurance penetration rate in Nigeria. The authorities expect a strong demand of licenses for this type of insurance. Only a few insurers have so far been allowed to market products that are in line with the Islamic precepts.

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