IslamicFinance.de

Notable growth in the takaful industry from Islamic countries in North Africa is expected due to the changes in the political environment there. Islamic governments in countries like Libya, Tunisia and Egypt will most probably make a huge contribution to the global takaful market. Needless to say, conventional insurance will be overruled. With $11.8 million, the African takaful industry already ranks third worldwide.

The Solidarity Group Holding board has appointed of Ashraf Bseisu as group chief executive officer. Mr Bseisu is a long-standing Solidarity executive and a prominent member of the region's insurance industry. Solidarity Group Holding, one of the largest takaful companies in the world, includes the Solidarity Family Takaful Company and Solidarity General Takaful Company in Bahrain as well as subsidiaries and associates in Saudi Arabia, Jordan, Egypt, Malaysia and Luxembourg. Mr Bseisu is currently Bahrain Insurance Association chairman and the General Arab Insurance Federation vice-president. He has been with Solidarity since his appointment as general manager - finance and corporate management in July 2006 and has held several senior posts within the organisation. He has more than 20 years of experience in the insurance and financial services sector, where he held several executive positions.