A global Takaful insurance forum was organized by Ethio Reinsurance and Al-Huda Islamic Centre for Islamic Banking & Economics in Addis Ababa, March 2021.

The feasibility study analyzed the country’s regulatory landscape, the potential size, financial requirements, and the types of products suitable for the Ethiopian market. The main revelation from the study was the potential Takaful promises, a staggering 1.3 trillion Br to banks in a matter of a few months, from segments of society that would have otherwise remained unbanked. For the experts involved in the feasibility study, this eyebrow-raising amount represents 1.5pc of the total deposit the banks mobilized last year.

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