By Bashir Mohammed
Kano
Emir of Kano, His Royal Highness, Muhammadu Sanusi II, is expected to launch Kano branch of Jaiz Takaful Insurance Plc. in his palace, Kofar Kudu, on October 30, 2017.
In a press statement, the Managing Director/Chief Executive Officer of the Sharia compliant insurance company, Momodou Musa Joof, made the disclosure at a breakfast meeting in his office.
He said the company would tap from the emir’s royal blessing to improve on insurance penetration in Nigeria and Kano in particular.
Blueprint gathered that the ceremony, which would partly feature parleys between the top management officials of the Company and Kano business communities and associations, would have the company’s Board Chairman, Dr. Umaru Abdul Mutalab, as a special guest.
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 formally 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.”
