Within days of regulators announcing that conventional insurance firms would be allowed to set up “Islamic windows”, State Life Insurance Corporation – the largest insurance company in the country – has made clear its intentions of launching its own brand of Shariah-compliant insurance products.
State Life Chairman Shahid Aziz Siddiqi said that the insurance giant, which is wholly owned by the federal government, would launch its new range of Islamic insurance within a year. “The launch could be by mid-2013. We’re currently assessing the target market for Takaful (Islamic insurance). We have to fulfil various conditions that the SECP has imposed for Takaful window operators in its recent rules,” he said………………………………………..Full Article: Source