The National Insurance Commission (NAICOM), recently announced its plan to release the guidelines on Takaful or Islamic Insurance by the end of next month. Nnamdi Duru writes on the peculiarities of this highly specialised branch of insurance practice and the benefits.
The insurance regulator, National Insurance Commission (NAICOM) said it would soon put in place the necessary framework for the take-off of takaful insurance, a platform for the protection of lives and properties based on risk sharing in line with the principles and practice of Islam as against risk transfer as in conventional insurance………………………………………..Full Article: Source