Azerbaijan: First takaful ecosystem launched
Source: Middle East Insurance Review | Jul 2026
Saf Takaful Insurance and Reinsurance Broker (Saf) has officially commenced operations and announced the establishment of a takaful window in strategic partnership with Qala Insurance.
The moves represent a rollout of Azerbaijan’s first Islamic insurance ecosystem, fully aligned with international standards, reported the news platform apa.az.
The Central Bank of Azerbaijan granted Saf a licence to operate as an insurance broker in March 2026.
Saf Director Eyvaz Jafarli said that due to the asset-backed nature of Islamic finance, banks operating within such a system would find it difficult to function without takaful solutions. M