IFE’s Group Life Committee Prepares A Guiding Life Takaful Policy

The group life insurance committee at the Insurance Federation of Egypt (IFE) has finalized writing the guiding life Takaful (Islamic insurance) policy, said Ayman el-Alfy, head of the committee.

The committee will send this guiding policy to the Egyptian Financial Supervisory Authority (EFSA) in order to be approved before being sent to the life Takaful companies, he added. The committee unified all the coverages of life insurance sector of Takaful companies.

The committee had earlier issued a similar guiding policy for conventional life insurance sector, he noted.

He revealed that the group life insurance committee plans to discuss the main challenges facing group life insurance sector in the Egyptian market and the possible methods for boosting the sector.