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Four local companies apply for licenses to set up Islamic based insurance operations Takaful

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Four unnamed local companies have submitted their applications to the Insurance Regulatory Authority (IRA) for licenses to set up Islamic-based insurance operations (Takaful), the insurance regulator said yesterday.
One of the applicants is seeking to offer the services exclusively while the other three are eyeing to offer the service through an Islamic window. “We have received applications from four firms,” said Kalai Musee IRA manager in charge of supervision on the sidelines of a Retakaful conference hosted by Kenya Reinsurance Corporation (Kenya Re) in Nairobi

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