Sanlam creates Sanlam Takaful

The South African giant Sanlam has created "Sanlam Takaful" a new subsidiary dedicated to Islamic insurance in Morocco. Sanlam Takaful will not begin operations before obtaining prior authorizations from the regulatory authorities.

The Moroccan insurance code was amended in February 2019 to introduce Takaful activity. This legislation update helps to address some of the insurance problems which participatory banks face when making loan advances to their customers.

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