UK has the Potential to be a Hub for Sharia-Compliant Insurance
An article in Insurance Business has highlighted the potential for the UK to become a hub for Sharia-compliant insurance, or Takaful.
Although insurer AIG launched the first Sharia-compliant Warranty and Indemnity insurance policy in the London M&A insurance market last year, in general, uptake of Takaful policies in the UK has been slow.
However, having interviewed a number of leading Islamic finance experts at a recent event (looking at the challenges and opportunities presented by Sharia-compliant insurance) in London Insurance Business believes there is large scope for future growth in this area.
