Noor Takaful Eyes Capital Market Listing
Noor Takaful Insurance Limited, one of Nigeria’s leading Islamic finance operators, has announced plans to list on the Nigerian capital market. This revelation came from the company’s Vice Chairman, Aminu Tukur, during the recently concluded African Takaful and Non-Interest Finance Conference held in Lagos.
Key Highlights
Plans to Deepen the Capital Market
Tukur emphasized the need for more non-interest financial institutions to join the Nigerian Stock Exchange, noting that only Jaiz Bank is currently listed.
“There is an opportunity and need to deepen liquidity in the market. Listing entities like Noor Takaful would advance this objective.”
The company’s board is actively discussing this prospect and hopes to take the lead among Takaful operators in enhancing market diversity.
Why Takaful?
The conference, themed ‘Islamic Finance and Takaful: Building Resilience in a Volatile World,’ shed light on the benefits of Takaful and non-interest financing:
• Transparency and accountability: Ethical business practices are prioritized.
• Risk-sharing approach: Ensures equitable distribution of risks and profits.
• Financial inclusion: Extends services beyond Muslim communities, creating affordable capital access for underserved populations.
Driving Positive Impact
Over the past seven years, Noor Takaful has:
• Attracted 15,000 participants.
• Paid claims exceeding NGN 9 billion, ensuring timely disbursements to individuals and businesses.
Chairman Muhtar Bakare described non-interest finance as “culturally appropriate and time-tested for addressing Africa’s financial challenges.”
Collaborative Investment Model ️
At the event, Mohammed Garuba, MD of Cardinalstone Real Assets Limited, highlighted the unique advantages of Islamic finance:
“Risk-sharing creates a partnership where profits and losses are equitably shared. It’s not just about funding but engaging actively in the investment process.”
Noor Takaful’s potential listing marks a significant step toward a more inclusive and diversified financial ecosystem in Nigeria. Stay tuned for updates on their journey to the capital market!
Noor Takaful Insurance Limited, one of Nigeria’s leading Islamic finance operators, has announced plans to list on the Nigerian capital market. This revelation came from the company’s Vice Chairman, Aminu Tukur, during the recently concluded African Takaful and Non-Interest Finance Conference held in Lagos.
Key Highlights
Plans to Deepen the Capital Market
Tukur emphasized the need for more non-interest financial institutions to join the Nigerian Stock Exchange, noting that only Jaiz Bank is currently listed.
“There is an opportunity and need to deepen liquidity in the market. Listing entities like Noor Takaful would advance this objective.”
The company’s board is actively discussing this prospect and hopes to take the lead among Takaful operators in enhancing market diversity.
Why Takaful?
The conference, themed ‘Islamic Finance and Takaful: Building Resilience in a Volatile World,’ shed light on the benefits of Takaful and non-interest financing:
• Transparency and accountability: Ethical business practices are prioritized.
• Risk-sharing approach: Ensures equitable distribution of risks and profits.
• Financial inclusion: Extends services beyond Muslim communities, creating affordable capital access for underserved populations.
Driving Positive Impact
Over the past seven years, Noor Takaful has:
• Attracted 15,000 participants.
• Paid claims exceeding NGN 9 billion, ensuring timely disbursements to individuals and businesses.
Chairman Muhtar Bakare described non-interest finance as “culturally appropriate and time-tested for addressing Africa’s financial challenges.”
Collaborative Investment Model ️
At the event, Mohammed Garuba, MD of Cardinalstone Real Assets Limited, highlighted the unique advantages of Islamic finance:
“Risk-sharing creates a partnership where profits and losses are equitably shared. It’s not just about funding but engaging actively in the investment process.”
Noor Takaful’s potential listing marks a significant step toward a more inclusive and diversified financial ecosystem in Nigeria. Stay tuned for updates on their journey to the capital market!