Takaful launches Shariah- compliant insurance cover

A first fully Shariah-compliant insurance cover initiative has been launched in Kenya. The Takaful Insurance of Africa Limited has introduced an insurance package grounded in Islamic Muamalat, the Islamic Banking Principles espoused in Islamic law and aims at serving all Kenyans across religious faiths. The Vice President called for a through study into principles that guide various insurance systems with a view to instilling best practices in the industry.