Publication of a decree regulating Takaful insurance in Algeria

A decree was published in the official gazette of 28 February 2021, setting the terms and conditions for the practice of Takaful insurance in Algeria.

The document provides, among other things, for the following:

• the possibility of carrying out Takaful insurance operations either through a dedicated company or through a window within a traditional insurance company,
• the Takaful insurance operation concerns the personal insurance "Family Takaful" and the property and casualty insurance "General Takaful",
• the separation between the participants' account and the shareholders' account,
• the establishment of a supervisory committee to control and monitor Takaful insurance operations.