02.05.2013 - Nigeria: Insurance Commission releases takaful guidelines
The National Insurance Commission (NAICOM) has issued the guidelines for takaful as part of efforts to increase insurance penetration in Nigeria and boost the contribution of insurance to the national GDP. According to a circular outlining the guidelines, all applicants seeking licences from the Commission to transact takaful business in Nigeria must possess the Certificate of Registration as a full-fledged takaful company in accordance with international best practice. In addition, such a company must have, as part of its name, words or terminologies that connote takaful operations...............................................Full Article: Source
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