The performance of Uganda's insurance industry is expected to improve this year due to factors such as the expected take-off of takaful.
The process for the introduction of Shariah-compliant insurance in Uganda commenced in 2020 and the principles and regulations to enable it are now in place, reported the newspaper, The Independent.
Mr Kaddunabbi Ibrahim Lubega, CEO of the Insurance Regulatory Authority (IRA), said that while the regulatory framework is now in place, no company is yet licensed, but one has filed an application and should commence operations before the end of this year.