With the aim of expanding its services in the country, the West Africa Takaful Insurance Company recently opened a new branch in Brusubi. The insurance company, with principles based on Islamic insurance and Sharia law, uses the Islamic insurance system.
At the ceremony, Momodou M. Joof, Managing Director and Chief Executive Officer (CEO) of West Africa Takaful, said that Takaful simply means people come together for mutual benefit.
According to him, while pursuing his master’s degree program in Malaysia, he was seconded to one of the Takaful companies (Takaful Malaysia) to study how the company claims to be Sharia-compliant, which he says is a law that favors humanity more than anything.
“I realized after this attachment that it had not so much to do with religion, but more with ethics and fairness in business.”
The West Africa Takaful Company, he added, is for everyone and customers insured with the company are paid if they suffer losses.
“In addition, the risks and benefits are shared among the participants. West Africa Takaful comes to further present the beauties of Islam, the principles and practice of Islamic finance are what we stand for. not to use the name Islamic insurance when we are not operating under Sharia law. “
He revealed that they had permission to open another branch in Brikama, which they were currently working on, saying they wanted to expand their services across the country before venturing into neighboring countries.