By Abdulgafar Oladimeji, Kano
The rendering of Islamic insurance services tagged Jaiz Takaful Insurance was yesterday formally flagged off in Kano. The managing director Jaiz Takaful Insurance PLC, mr Mahmud Moussa Joof disclosed that the sector has currently recorded 25 to 35 percent global growth.
According to him, Takaful insurance is open to everybody as against contrary insinuations from certain quarters, explaining that, the service is though strictly ran in compliance with the provisions of Shariah laws.
Joof, who spoke at the launching ceremony of Takaful services at the premises of the palace of the emir of Kano said, Kano which boast of a large number of Muslim and non Muslims will benefit from the services that will be rendered.
Former governor Central Bank of Nigeria and Emir of Kano, Muhammad Sunusi II lamented over the faulty payment system by insurance service providers in Nigeria.
According to him, the sustainability of insurance is reliant on prompt payment of claims.
He wail that, bureaucratic bottleneck has contributed hugely to the failure recorded in insurance businesses.
Emir Muhammad Sunusi, urge operators of the Islamic Insurance business to be honest to Kano people, while urging Kano people to form cooperative group to access the Islamic insurance services, affirming that, subscribing to insurance services is permissible in Islam.
He cautioned prospective subscribers to discard any shady intention they intend to adopt to dupe the operators, pointing out that such acts are religiously unacceptable.