Jaiz Insurance products not for religious motive, says Joof

Momodou Musa Joof

Jaiz Takaful Insurance, established in January this year is not for religious motive but to benefit humanity, Managing Director, Jaiz Takaful Insurance, Momodou Musa Joof has said.

The clarification is coming on the heels of multiple complaint by a section of the public that the insurance product is part of efforts to Islamize the Nigerian nation.
Joof told journalists, yesterday, in Abuja, that though Takaful might be new in the country, it is already operational in Zambia and it is being studied as a course at the Chartered Institute of London, the highest professional body for insurance in the world.

According to him, Islam has not been imposed on the Christian minority group in The Gambian, where Takaful insurance began, though Muslims constitute about 95 percent of the population of the land-locked West African country.

He explained that Takaful is an Arabic word that means “solidarity” and the coming together of people for mutual benefits, stressing that the product is an alternative concept to assuage the public reservation about conventional insurance as a practice that takes people’s money in form of premium, but at the end, few claims are paid, while the company declares huge profits.

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