Takaful Soon to be Made Available in Morocco Following Approval in 2019: Bank Al-Maghrib Governor

Speaking at a national insurance seminar in Morocco, Bank Al-Maghrib Governor, Abdellatif Jouahri stated that Takaful is to be launched soon in the country, as the main stakeholders are collectively working on finalising matters related to this.

Why it Matters?

The launch of Takaful insurance is seen as a key factor in aiding the growth of participatory finance in Morocco, which is mainly spurred on by the country’s real estate sector. Although the Moroccan parliament had approved a law on Takaful back in 2019, the relevant regulatory bodies have still not granted permits to entities that wish to involve themselves in the provision of Islamic insurance.

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