Algerian Government Adopts Draft Regulations for Takaful Industry

The Government of Algeria has examined and adopted a draft executive decree stating the conditions, regulations and modalities needed for the successful undertaking of Takaful businesses in the country. According to media reports, no date has been announced for the publication of the Takaful regulations.

A statement issued in this regard highlighted that the establishment of Takaful operations in the country, which maintained compliance with Islamic Shariah law principles, would support the Government’s action plan for the development of alternative finance in Algeria, consolidating its approach and enabling savings to be captured outside of the banking space.

This statement was presented by Algeria’s Finance Minister, Aimane Benabderrahmane, on the 27th...