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Jun 2020

Turkey: New takaful company established

Source: Middle East Insurance Review | Jun 2020

A new Islamic insurance company called Bereket Takaful has been established in Turkey.
 
It is founded by Bereket Sigorta, a subsidiary of Turkish Agricultural Credit Cooperatives (ACC).
 
The new takaful company will offer life, personal accident, automobile, property and workplace insurance. 
 
The ACC is Turkey’s largest farmers’ organisation, with 17 regional unions, 1,625 cooperatives, 197 branches, 20 domestic and overseas companies, 12,000 employees and approximately 850,000 partners.
 
The Turkish government introduced a takaful law in 2017 to foster the growth of Islamic insurance. Since then, the share of takaful operators in the country has reached 2%. M 
 
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