Arab Reinsurance Company: a new dimension
Home   |   Sitemap   |   Contact us
Follow us on
Is Climate Litigation Covered by Insurance? - Social Inflation or Science: What Is Fueling Climate Litigation? - Fortegra Europe Opens Branch in Czech Republic - Vantage launches Construction and Political risk business - UK Insurers Cautiously Willing to Underwrite Fire Safety Risks - Insurtech Foxquilt Raises $8M to Expand Small Business Offering in U.S. and Canada - Speciality Re/Insurer Convex Launches European Subsidiary With A- Rating From S&P - Debt surge in emerging markets may hurt insurance outlook: Swiss Re - Zurich Insurance Weighs Selling Some Australian Non-Core Assets - Reinsurers Face Major Claims Uncertainties, but Reap Benefits of Pricing Tailwinds - Corvus, SiriusPoint announce investment & underwriting capacity partnership - Munich Re backs energy storage systems provider ESS - Climate Change Could Force 200 Million People to Leave Their Homes by 2050 - Work of the scientific community and re/insurers needed to assess climate change: Lloyd’s - Gallagher Re Touts Advanced Integrated Reinsurance Analytics Platform - London Financial Employees Return to Offices Despite Rising Virus Cases - P/C Reinsurers Maintain Underwriting Discipline, Despite Rising Capacity: Guy Carpenter - Britain Looks to Revisit Data Privacy Regulations - WTW, Applied Systems target real-time pricing enhancements - Reinsurance environment “most attractive in a decade”: SCOR’s Launay - Willis Towers Watson’s New CEO Says It Has $5 Billion for Possible Acquisitions - Lloyd’s Reports H1 2021 Profit of £1.4B ($1.9B), with 92.2% Combined Ratio - Global Reinsurers Shoulder ‘Considerable Burden’ of COVID-19 Claims - “Inflation is the enemy of the re/insurance industry,” says Swiss Re CFO Léger - Global Reinsurance Rates, Demand to Continue Rising in 2022: Moody’s - Prudential’s Michael Koller joins MS Amlin as Chief Risk Officer - Rates need to and will harden further: Swiss Re CEO Mumenthaler - Russia’s Renaissance Insurance Plans $1 Billion IPO in Moscow: Reuters
Search Search
World News & Events
Enlarge Font Minimize Font

Morocco to launch Takaful insurance soon

Saturday, 04 03 2021, Category: Islamic Insurance, Country: Morocco
Morocco is putting the final touches on the Takaful insurance key to a growing participatory finance triggered by real estate mainly.

Speaking at a national insurance seminar, Central Bank Governor Abdellatif Jouahri said Takaful will be launched soon as the main stakeholders are working together to finalize it.

A law on Takaful was approved by parliament but regulatory bodies have yet to give permits to companies that want to engage in this sort of insurance.

Participatory banks offered in 2020 financing worth 13.5 billion dirhams from 9.1 billion a year earlier.

The Central Bank approved the first five participatory banks in January 2017. Subsequent legislation was passed in 2018 and 2019 regarding solvency and liquidity, respectively.

Most of Moroccan largest banks have Islamic finance branches, including Attijariwafa Bank, Groupe Banque Centrale Populaire, BMCE Bank of Africa, CIH Bank and Crédit Agricole du Maroc. Subsidiaries of the main French banks with operations in Morocco – including Société Générale, BNP Paribas and Credit Agricole’s Islamic Development Bank – were also approved to offer Islamic financial services.

All copyrights reserved, Arab Reinsurance 2016 ©