Côte d'Ivoire: SAAR opens takaful window

Source: Middle East Insurance Review | Apr 2023

The Côte d’Ivoire unit of Cameroon-headquartered SAAR Assurances (African Insurance and Reinsurance Company) has established a takaful window to offer Islamic-compliant insurance products.

The window, dubbed ‘SAAR TAKAFUL’, represents a step taken towards improving customer satisfaction and improving insurance penetration rate in Côte d’Ivoire. Muslims form 42% of the total population of the country.

SAAR TAKAFUL offers its participants takaful policies certified by an independent shariah committee, which ensures that operations comply with Islamic requirements.

“SAAR TAKAFUL is … also part of the dynamic of accelerating insurance inclusion launched by the regulator and government authorities,” said SAAR Assurances managing director Loïc Armel Kengne Wafo.

SAAR Assurances, established in 1990, has a presence in several countries in Africa and operates in all branches of insurance (life and non-life). The group is majority owned by Cameroon-based Afriland First Bank which has subsidiaries in several African countries. M

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