The Moroccan market, open to takaful insurance

The opening of the Moroccan market to takaful insurance scheduled for 2018 will be initially limited to the products of life insurance (health, retirement, industrial accidents, death, disability...). The introduction of non life insurance products complying with Islamic requirements is postponed to a later date.

On 16 September 2016, the authorities introduced a legislation governing takaful insurance business in the Kingdom. The provision stipulates that license for takaful operations may not be granted to a company already licensed for other insurance operations. Existing companies wishing to embark on Takaful market will have to create separate legal entities.

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• Insurance industry in Morocco