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FRA’s support to Takaful insurance activity has encouraged global entities to enter Egyptian insurance market
The switch to online services comes as part of the ministry’s precautionary measures to curb the spread of the novel coronavirus (COVID-19), El-Kabbaj said. At the same time, the new online service is to provide transparency in all Takaful and Karama services.
Electronic system application during 2020/2021 at an investment cost of EGP 30m
Funds reassure World Bank’s commitment to promoting human capital development
This is in addition to supporting women to benefit from the Takaful and Karama programme, where the percentage of women benefiting from it exceeded 88% of the total beneficiaries of the programme
Minister of Social Solidarity Ghada Waly said in a statement on Monday that there will be new categories added to the Takaful and Karama (Solidarity and Dignity) social protection project for the first time since its launch. Around 1.5 million families of those unable to work will be added to the project, which will be …
The package benefits owners of salaries, pensions, beneficiaries of Takaful and Karama, holders of ration cards
We participated in implementing the Takaful and Karama monetary support system, says chairperson
Minister of International Cooperation Sahar Nasr said the government aims to achieve three key elements: boosting economic growth and GDP rates by working to create new jobs and support micro, small-, and medium-sized enterprises (MSME); supporting youth through training, rehabilitation, and skill development programmes; and eroding poverty and providing social protection for the most vulnerable …
The Supply Ministry is working to secure six-month stock of strategic goods at an estimated cost of $1.8bn, says minister
Economic hurdles such as poverty and shortage of skilled workers will slow sector’s growth
“We [Egypt] have limited resources and the region we are in are facing some challenges,” Wali said. Egypt is also facing terrorism inside and outside, she highlighted, stressing that bureaucracy still exists and it is “no less dangerous than terrorism”.
The main obstacle facing the insurance market is for people to be truly convinced to engage in insurance services, says Masaya Inagaki
S&P value total Islamic banking assets in Egypt at around $11.6bn
Reuters – Kuwait’s first Islamic insurer was born 14 years ago, but its takaful firms are still struggling in a crowded market that faces cut-throat competition. This has led to stagnant growth and persistent losses for takaful firms operating in Kuwait, one of the world’s richest countries on a per capita basis, raising doubts about …
Reuters – Bahrain’s central bank will release a new regulatory framework for Islamic insurance (takaful) this quarter, in an overhaul of standards which the regulator hopes will attract new business in a sector it helped to pioneer. The kingdom has been a major hub for Islamic finance in the Gulf but in the last few …
Daily News Egypt talks, in an exclusive interview, with Hesham Abdel Shakour, Managing Director of Egyptian Life Takaful Company, Gulf Insurance Group (GIG)
Takaful products should be labelled ‘ethical’ and not ‘Islamic’ in order to attract non-Muslim consumers
A lack of public awareness of the industry and available financial infrastructure are the largest obstacles for takaful on the continent, say panel members.
Retakaful, a Sharia-compliant form of reinsurance, was also discussed
Egypt hosting the summit reflects confidence in the country’s economic future, said keynote speaker and minister of finance, Al-Morsi Hegazy
By Bernardo Vizcaino / Reuters DUBAI: Growth of the takaful or Islamic insurance business is slowing, industry statistics show, increasing pressure on the sector to boost efficiency, roll out new products and explore new markets. Takaful, which has its core markets in the Gulf and southeast Asia, is one bellwether of consumer appetite for Islamic …