Egypt – Takaful sector expected to grow
Friday, 01 12 2018, Category: Islamic Insurance, Country: Egypt
The deputy head of the investment, financial and administrative department at Egyptian Takaful Insurance Company (Property), Mr. Bayoumi Abdul Wahid said that the strong growth of Islamic finance worldwide especially in South East Asia and the Middle East would support the growth of Takaful, which will develop rapidly. Mr. Bayoumi said in the past six years in the Egyptian insurance market, the number of Takaful companies reached 10 including six property Takaful companies and four Life Takaful companies, which together represent 15% of the market.
Moreover, the international Takaful market achieved a significant development, as there are now 177 Takaful companies around the world and the growth rate of Takaful in year 2018 will be at least 16%.
Source: Al Bosla News