Pakistan Takaful Sector Requires Further Development: Dr Ishrat Hussain

Dr Ishrat Hussain, Adviser to the Pakistan Prime Minister on Institutional Reforms stated that whilst the Islamic banking sector in the country had experienced significant growth over the past twenty years, the Takaful sector in the country required further promotion to improve. The announcement was made at the launch of Salaam Takaful, the rebranding ceremony for formally known Takaful Pakistan.

Why it matters?

Dr Hussain stressed on the need for the promotion of Takaful to uplift lives of the low income class in Pakistan through initiatives such as providing Takaful health cards for farmers and small businesses. He stated that the sector has quick growth potential and advised Islamic finance practitioners to address these market nee...