Holmarcom Introduces the First Islamic Insurance Company in Morocco; Takafulia Assurance

Morocco-based Group Holmarcom (Holmarcom) announced the launch of the country’s first Islamic insurance company, Takafulia Assurance, as per a press release dated 10th of February 2022.

Why it Matters?

The insurance institution represents a step forward in advancing Islamic or participative banking that remains relatively new and underdeveloped. Takafulia Assurance intends to gradually develop insurance services covering individuals, professionals, and businesses through packages targeting market segments seeking Shariah-compliant insurance products. According to Lakbira Sbeih, Deputy General Director at Takafulia Assurance, the institution offers family insurance packages including life insurance, investment-saving packages, and a special ‘T...