Nigeria: Jaiz Takaful starts operations
Source: Middle East Insurance Review | Sep 2017
Jaiz Takaful Insurance has fully commenced operations in four cities in Nigeria, namely, Kaduna, Kano, Lagos and Abuja, the last being the capital city of the country and where the insurer has its headquarters.
Mr Momodou Musa Joof, Jaiz’s Managing Director, said the company plans eventually to have branches in all 36 states of the federation, reported Business Day.
He commended the efforts made by the regulators in the sector, but urged them to speed up the processes.
Referring to Jaiz, he said: “The company was enlisted in 2014, and it took us till 2016 to get the licence to operate, and until the first quarter of 2017 to get product approval for general insurance.”
Mr Joof said that takaful is open to both Muslims and those of other faiths, and offers mutual benefits for all policyholders. M