Takaful insurance approved by the House of Representatives

The law incorporating Takaful insurance into Morocco's insurance code was ratified on 9 July 2019, following a unanimous vote by the House of Representatives.

According to the Supervisory Authority of Insurance and Social Welfare (ACAPS), the implementing texts of the new law would already be finalised. One final step is left, that of submitting these texts to the Higher Council of Ulemas (CSO) for final approval.

CThis significant step towards the implementation of this law will soon allow many insurers, including South African SANLAM, to market Takaful insurance policies across the country.

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