Takaful insurance on the rise

The sector is poised to witness a new boost following the recent two events. The first one pertains to the creation within National Cooperative Insurance Company (NCCI) of a specific Takaful Committee entrusted with the review of the regulation and the services provided to customers.

The second event relates to the decision of Bank AlJazira to create a joint venture with an international insurance companies based in Jeddah. This new entity would be endowed with capital that could amount to 300 million SAR (79.6 million USD).