The first Islamic insurance company has been launched in Mogadishu following decades of instability and civil war in the horn of African nation.
The Takaful and Re-Takful Islamic Insurance Company opening Ceremony was held in the Somali capital with cheerful representatives from key Somali financial institutes including well known business people and federal government officials.
Speaking at the Ceremony managing director of Takaful Company Mohamed Abdi said the company was established to serve Somali people through Sharia law conduits saying Takaful have a business relations with international Islamic insurance companies across World.
“Takaful is ready to collaborate with other Somali financial institutes in the country, Somali people should trust us “Mohamed Abdi said. He thanked Somali Federal government officials for endorsing Takaful Company.
Acting Somali Transportation minister Sacid Qorshel has called Somali people to welcome Takaful saying new companies will boost up country’s trade and infrastructure. In Somalia insurance banking system sector was collapsed when former Somali president Siyad Bare ousted from post in 1991.
Source: Somali Current
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