AlHuda CIBE To Launch The African Takaful Forum in Nigeria

The AlHuda Centre of Islamic Banking and Economics has announced the launching of the African Takaful Forum on 06 – 07 March, 2018 at the Sheraton Abuja Hotel in Nigeria with the purpose of boosting the Takaful industry -- an Islamic alternative to insurance -- across the continent.

The Sheraton Abuja Hotel in Nigeria where the African Takaful Forum will be held on 6 to 7 March 2018. Photo: Travel Jumia

Supported by National Insurance Commission (NAICOM) Nigeria, the Forum aims to provide adequate knowledge and benefits of Takaful industry to the relevant market. The platform will help analyzing the problems hindering rapid development of Takaful in Nigeria that would surely help increasing financial inclusion.

The Takaful or the Islamic insurance is  a co-operative system of reimbursement or repayment where members contribute money into a pool system in order to guarantee each other against loss or damage.

The event aims to be the ideal platform for international collaborations/partnerships with Takaful industry that will attract international investors in the country. A 2-day Post Event Workshop on Takaful Operations is also planned on 08 – 09 March, 2018, which will conclude with the African Takaful Awards. 

Muhammad Zubair Mughal, CEO, AlHuda Centre of Islamic Banking and Economics (CIBE) stated that he is expecting tremendous audience from not only Nigeria but also from the neighboring countries. He is delighted to invite highly distinguished speakers and policy advisors to bring forth exceptionally handful of ideas to implement Takaful as a substitute to conventional insurance for the poverty alleviation of the under developing countries.
He further added that he would love to welcome all African insurance industry including commissions, regulators, central banks, banking sectors, Takaful, composite, general, life, re-takaful, reinsurance, brokers and actuaries to come up in order to pass a resolution for the sake of the inhabitants of the African countries. He further motivated the African industry players to play their role in the development of Takaful industry in African region especially in Nigeria. 

AlHuda Center of Islamic Banking & Economics (CIBE) promotes Islamic banking, finance and Islamic microfinance by offering Trainings, Awareness Workshops, Product Development, Advisory, and Consultancy.