Ethiopia: Pioneer reinsurer signs MoU with Islamic advisory firm to strengthen sector

Source: Middle East Insurance Review | Mar 2021

Ethiopia Reinsurance and AlHuda Centre of Islamic Banking and Economics (CIBE) have signed an MoU to promote the takaful and retakaful industry in the East African and Ethiopian insurance markets.

Ethiopian Reinsurance CEO Fikru Tsegaye said that his company is dedicated to developing the retakaful market in the region. This initiative will strengthen the takaful industry in Ethiopia and other regional markets.

Headquartered in Dubai, AlHuda CIBE provides advisory and consultancy, education and capacity building as well as research and development related to Islamic financial services.

AlHuda CIBE CEO M Zubair Mughal said that more than 400 takaful entities and at least 35 retakaful companies are operating around the world. He said that apart from Muslims, non-Muslims too show interest in Islamic finance. M

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