Egyptian Takaful-Life Insures Banque Misr’s Customers Against Loan Non-payment

Egyptian Takaful-Life announced it will provide one-year insurance coverage for Banque Misr’s customers against loan non-payment.

The insurance policy covers against non-payment due to natural death or accidental death. The deal was signed last May, but it was postponed till this July due to the political turmoil Egypt witnessed in the last period.

It is worth mentioning that Banque Misr allocated EGP 100 million as an initial segment for car murabaha (Islamic finance).

Egyptian Takaful-Life also announced in April it is providing one-year insurance coverage for Banque Misr’s customers who wished to pay subscriptions of sports clubs on installments.