Finance experts from across Africa gathered in Lagos for the second African Takaful and Non-Interest Finance Conference, organized by Noor Takaful Insurance Limited. The event focused on strategies to deepen the adoption of non-interest finance and takaful in Africa, with the theme “Islamic Finance and Takaful: Building Resilience in a Volatile World.” The goal was to explore ways to make financial resources more equitable, especially for underserved populations.
Muhtar Bakare, Chairman of Noor Takaful Insurance Limited, highlighted the growing importance of non-interest finance and takaful as vital alternatives to conventional finance. He emphasized that these models, based on solidarity, equity, and risk-sharing, are better suited to address the basic needs of people in Africa, aligning with both Islamic principles and the communal values of the continent.
Halima Kyari, Chairperson of the National Insurance Commission, discussed the commission’s efforts to promote Takaful insurance in Nigeria. Through initiatives like issuing operational guidelines and licensing new operators, the Commission has helped foster the growth of the Takaful industry in the country.
