News Middle East09 Sep 2020

Algeria:Islamic insurance to be launched

09 Sep 2020

Algeria will for the first time launch Islamic insurance, as the government seeks to boost the country's Islamic finance industry, reported Reuters quoting Finance Minister Ayman Benabderrahmane.

No date was mentioned for the much-awaited introduction of takaful.

The Finance Law 2020 provides for Algerian insurance companies to carry out takaful operations. Related implementing regulations will clarify the requirements for conducting such business.


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