Confab Deliberates on Potentials of Technology in Driving Takaful

Ebere Nwoji 

Issues bothering on transformative potential of technology in driving Takaful and non -interest finance in Africa was the main thrust of discussions at the maiden edition of African Takaful and Non-interest finance conference held in Lagos recently.

The two-day conference with the theme Leveraging Technology to Build on the Opportunities of Takaful & Non-Interest Finance in Africa was organised by Noor Takaful Insurance Limited.

Delivering his welcome remarks at the occasion, the Chairman, Noor Takaful Insurance Limited, Muhtar Bakare explained that the decision to organise the maiden 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.

Speaking at the event, His Royal Highness, Khalifa Muhammad Sanusi II  who was the special guest of honor at the conference expressed great delight at the steady growth of Islamic finance in Nigeria.

Sanusi noted that there was 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,  Sabiu Abubakar, who represented the Commissioner for Insurance and Chief Executive Officer National Insurance Commission (NAICOM), Olorundare Sunday Thomas, stated that the Commission

was trying its best to support operators in promoting the growth of Takaful in Nigeria with market-friendly regulations.