SOMALIA: ISLAMIC INSURANCE (Takaful) ON THE RISE IN THE HORN OF AFRICA

[MOEMONEY]

DEGEHABUR (HAN) JULY 28. 2022. Public Diplomacy and Regional Stability Initiatives News. Monitoring Regional Issues. The Prime Minister of the Federal Government of Somalia Mr. Hamse Abdi Barre who had meetings and discussions with different sectors of the society, the civilians had a great meeting last night with businessmen led by the higher administration of Rugta. Somali Business and Industry and he was one of the chairman of the company FISO Takaful Insurance Mr. Mohammed Mohamed . This meeting focuses on the new government, upliftment, growth and development of the country’s economy and building a government.

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[KobeBryant]

Insurance is big business. Extremely lucrative

 

[MOEMONEY]

Insurance is big business. Extremely lucrative

many loop holes and the general public needs to be educated on the pros and cons of insurance. if they are aware of the benefits of having peace of mind if something happens then everyone would jump on and sign up..

the problem is uneducated Somalis telling uneducated Somalis that ISLAMIC INSURANCE (Takaful) is harm or is a waste of money.

we need to change the mindset of Somalis..

 

[NordicSomali]

Insurance is big business. Extremely lucrative

its a pretty complex industry, you receive premiums that you have to reinvest with degree of certainty to have a return, you also have to anticipate insurance claim

 

[KobeBryant]

its a pretty complex industry, you receive premiums that you have to reinvest with degree of certainty to have a return, you also have to anticipate insurance claim

There would be lots of dishonest claims, could be a disaster.