Noor Takaful Insurance Limited, provider of Takaful insurance solutions, has created awareness on the need to drive Takaful insurance with technology.
During the African Takaful and non-interest finance conference, hosted by the firm in Lagos, industry leaders, experts, and stakeholders across Africa, gathered to discuss and explore the transformative potential of technology, as it boosted Takaful and non-interest finance in Africa.
The two-day conference with the theme, ‘Leveraging technology to build on the opportunities of takaful & non-interest finance in Africa’, provided a platform for dialogue and knowledge exchange.
Delivering his welcome remarks at the occasion, the Chairman, Noor Takaful Insurance Limited, Muhtar Bakare, said, the decision to organise the first conference was borne out of the commitment to deepen understanding and increase awareness about Takaful, while also resolving the long-standing socio-economic contradictions on the African continent, notably the issue of mass poverty in Africa.
The Special Guest of Honour, His Royal Highness, Khalifa Muhammad Sanusi II, expressed delight at the steady growth of Islamic finance in Nigeria.
Sanusi noted that, “There is a need for practitioners to see technology as a big enabler in advancing the Takaful model and non-interest finance in Africa.
“He also harped on the need for industry players to collaborate on the best way possible to improve regulations.”
In his keynote address, Deputy Commissioner for Insurance, National Insurance Commission, Sabiu Abubakar, who represented the Commissioner for Insurance, National Insurance Commission, Mr Sunday Thomas, said the commission was trying its best to support operators in promoting the growth of Takaful in Nigeria with market-friendly regulations.
Abubakar stressed the need for industry players to embrace technology in the quest to expand the markets and enhance the efficiency of the Takaful model.
