Mufti hails CRDB for Shariah insurance services

Mufti of Tanzania and Chairman of the National Muslim Council of Tanzania (Bakwata), Sheikh Abubakar Zubeir has commended CRDB Bank for introducing Shariah-based insurance services ‘Takaful’ based on the Islamic faith and its principles.

“We hail CRDB for introducing insurance services that put into consideration the faith of the people. Shariah is an important aspect for Muslims although other people of different faith prefer them,” he said.

CRDB’s Chief Commercial Officer, Mr Boma Raballa said it is a significant milestone for CRDB to collaborate with Zanzibar Insurance Corporation (ZIC) Takaful to introduce Takaful insurance services in the country.

Tanzania Insurance Regulatory Authority (TIRA)’s Insurance Commissioner and CEO, Dr Baghayo Saqware said that innovations that address the challenges that prevent Tanzanians from using insurance services are needed to develop the sector and serve many people in the country.

The ZIC Takaful’s Chief Executive Officer Mr Said Abdallah Basleym said their partnership will help bring Takaful insurance services to more citizens.