Sanusi to Commission Jaiz Takaful Insurance in Kano
By Dipo Olowookere
Emir of Kano, Muhammadu Sanusi II, will on Monday, October 30, 2017, commission the Kano branch of Jaiz Takaful Insurance Plc.
Speaking at a breakfast meeting in his office in Abuja, Managing Director/Chief Executive Officer of the Sharia compliant insurance company, Mr Momodou Musa Joof, stated that the event will take place at the monarch’s palace in Kofar Kudu.
According to him, the insurer would tap Emir Sanusi’s royal blessing to improve on insurance penetration in Nigeria and Kano in particular.
The ceremony, which will partly feature parley between the top management officials of the Company and Kano business communities and associations, would have the Insurance’s Board Chairman, Dr Umaru Abdul Mutalab, as a special guest.
Mr Joof said, “Jaiz Takaful Insurance has received tremendous patronage in Kano State within few months of its operation in the state and so, it is not out of place to now formerly launch it to the people and the community of Kano.”
The system of Takaful as an insurance service provides solidarity in respect of human life or property of the policyholder known as participants. They subscribe to assist and indemnify each other in the event the need arises, in addition to mutual assistance.
What is new is that at the end of the business year, any profit made under Takaful will be proportionately shared among its participants and shareholders in relation to the scale of their investment.