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May 2020

Algeria: Takaful law expected to be enacted by year-end

Source: Middle East Insurance Review | May 2019

A law governing takaful should be promulgated by the end of this year, according to National Insurance Company (SAA) CEO Nacer Sais.
He was speaking on the sidelines of a conference on the strategic challenges facing insurers and reinsurers in Algeria, reported the Algeria Press Service.
The law, currently being prepared, will cover areas like natural disaster insurance, the opening of insurance windows, and the promotion of Islamic life insurance.
Insurers will be equipped by the legislative framework to market products based on shariah standards and rules, particularly in the life sector, Mr Sais added. M 
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