The Emir of Kano, Malam Muhammad Sanusi 11, on Monday launched the first Islamic insurance company in Nigeria, tagged ‘Jaiz Takaful Insurance’.
The Emir at the event in Kano disclosed that the introduction of the system in Nigeria was a welcome development to contribute towards boosting the country’s economy.
According to him, the policy, which will be guided by Sharia, was not only for the Muslim, but also for non-Muslims to ensure that its members were treated equally and fairly.
“The Insurance Scheme will assist the small scale business people to replace their lost property, especially whenever a disaster which we are not praying for has occurred,” the emir said.
“The scheme would assist the registered members to replace their lost property, either due to fire outbreak or accident, through their contributions,” Emir Sanusi added.
He further called on Gov. Abdullahi Ganduje to register all the state’s property, especially vehicles and houses, with the Takaful insurance company.