Egypt: Takaful operators vying for national bank's Islamic branch clients

Source: Middle East Insurance Review | Nov 2019

Four takaful operators are competing to win an insurance policy to cover clients of National Bank of Egypt’s Islamic banking transactions, according to Amwal Al Ghad.

The companies competing for the bank’s 600 clients are Egyptian Life Takaful Company – GIG, Tokio Marine Egypt General Takaful, Libano Suisse Takaful – Egypt and Misr Emirates Takaful Life Insurance Co.

The policy comes with an initial sum insured estimated at EGP130m ($8m) and can be increased in the future pending the amount of new Islamic finances, said the report. M

EGP1 = $0.06

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