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EFG Hermes, GB Auto complete majority acquisition of Tokio Marine Egypt Takaful
Acquisition completes two companies’ full suite of NBFI services, including leasing, microfinance, Fintech, and digital payments
FRA allows capital contribution of commercial insurance companies to Takaful entities
FRA’s support to Takaful insurance activity has encouraged global entities to enter Egyptian insurance market
Social Solidarity Ministry launches e-portal for Takaful and Karama complaints
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.
Tokio Marine General Takaful achieved 16% growth in first 6 months
Electronic system application during 2020/2021 at an investment cost of EGP 30m
World Bank announces $500m to expand, improve Egypt’s social safety nets
Funds reassure World Bank’s commitment to promoting human capital development
Women availed from Takaful, Karama programme cap 88% of total beneficiaries
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
New categories to be added to Takaful and Karama project: Ghada Waly
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 …
Government allocates EGP 75bn social security package to protect lower-income groups: El-Garhy
The package benefits owners of salaries, pensions, beneficiaries of Takaful and Karama, holders of ration cards
e-finance completes automation of agricultural holdings with Military Production Ministry
We participated in implementing the Takaful and Karama monetary support system, says chairperson
International Cooperation Ministry to increase support for Takaful, Karama programmes to include 1.7m families
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 …
Social Solidarity Ministry to implement Karama, Takaful programmes across all governorates by end of fiscal year
The Supply Ministry is working to secure six-month stock of strategic goods at an estimated cost of $1.8bn, says minister
Egypt’s insurance market prospects are encouraging: Moody’s
Economic hurdles such as poverty and shortage of skilled workers will slow sector’s growth
EGP 310m spent on Karama and Takaful programmes: Social solidarity minister
“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”.
38% increase in sales in 2014: Tokio Marine Family Takaful MD
The main obstacle facing the insurance market is for people to be truly convinced to engage in insurance services, says Masaya Inagaki
Islamic banking headway in North African banks still slow: Standard and Poor’s
S&P value total Islamic banking assets in Egypt at around $11.6bn
Kuwait’s takaful firms struggle in crowded market
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 …
Bahrain aims for new business with Takaful, sukuk rules
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 …
GIG sees potential for takaful industry in Egypt
Daily News Egypt talks, in an exclusive interview, with Hesham Abdel Shakour, Managing Director of Egyptian Life Takaful Company, Gulf Insurance Group (GIG)
Conference: Takaful is suitable for both Muslims and non-Muslims
Takaful products should be labelled ‘ethical’ and not ‘Islamic’ in order to attract non-Muslim consumers
Takaful summit: Africa has huge potential, but also challenges
A lack of public awareness of the industry and available financial infrastructure are the largest obstacles for takaful on the continent, say panel members.
Takaful summit promotes microtakaful in Egypt
Retakaful, a Sharia-compliant form of reinsurance, was also discussed
The 7th International Takaful Summit in Egypt
Egypt hosting the summit reflects confidence in the country’s economic future, said keynote speaker and minister of finance, Al-Morsi Hegazy
Analysis: Slower takaful growth prompts strategy rethink
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 …