Africa Retakaful Company was established in 2010 and commenced operations in September. It is a wholly owned subsidiary of African Reinsurance Corporation operating from Cairo (Egypt). It was established in response to increasing needs of African Takaful industry for specialized Regional Retakaful Operator.
Africa Retakaful provides various Retakaful products which are shari’a complaint products and are essential for Takaful companies to meet their business requirements. Africa Retakaful will always ensure that all Retakaful products required by direct Takaful Insurance companies are available and are in line with Shari’a and recommended by the its Shari’a Supervisory board. Africa Retakaful adopt mixed between the two models (Wakala & Mudaraba). The Retakaful operation of the company is based on Wakala basis with management expense as actual. The Mudaraba model for the investment basically sharing profit and loss with participants’.
