By Nyima Sillah
West Africa Takaful has trained its staff to help them upgrade and enhance their knowledge and skills in executing their duties, held at a local in Senegambia.
The Insurance managing director and CEO of Takaful, Momodou.M.Joff, said: “West Africa Takaful belongs to the participants as an Islamic insurance company that share profits among their client’s based on the values and ethics of fairness in the Islam.
“The capital required for insurance conventional now in the Gambia, you can have compulsive companies elsewhere where you can do life and medical together but, in the Gambia, you have to do life and general separately,” he said.
He added: “The capital for each is 50million but we decided to go for 30million. West Africa Takaful is capitalizing twice the folder needed by the government. We have created awareness, educate the population, build capacity for our staff because they need to be very efficient with what they do so that we do it on the right way and adhere strictly to the principles and practice of Takaful.”
Assistant Manager Operation, Baba Sarr said: “Takaful share the same products with the conventional insurance but was quick to say they are different in principles like profit sharing and giving out zakat.”
“The principles of Takaful are applicable to both Muslims and none Muslims whatever profit you realized, you will be qualify to be part of the profit beneficiaries,” he added.
Representing Central Bank, Pa Alieu Sillah, said the growth of Takaful in the Gambia is so impressive and call on them to uphold the principles of Islamic insurance.
He urged to build the capacities of their employees, saying institutions with well train staff are usually successful, adding “we consider our local circumstances but also institute robust regulatory frameworks that meet international standard.”
“We attach much importance in ensuring a level playing field in which all operators can contribute to the development of the financial sector and the economy in our relentless quest to achieve macro-economic stability,” he said.
