The Emir of Kano, Muhammad Sanusi II, has launched the first Islamic insurance company in Nigeria, Jaiz Takaful Insurance.
Speaking on Monday, Sanusi said the introduction of the system in the country was a welcome development to contribute towards boosting Nigeria’s economy.
The Emir who said the policy would be guided by Sharia, explained that it is not only for Muslims as non-Muslims can avail themselves of the firm’s services.
He said : ”The Insurance Scheme will assist the small-scale business people to replace their lost property, especially whenever a disaster which we are not praying for has occurred.
”The scheme would assist the registered members to replace their lost property, either due to fire outbreak or accident, through their contributions.”
Sanusi urged the Kano state governor, Abdullahi Ganduje, to register all the state property, especially vehicles and houses, with the insurance company.