{"id":209436,"date":"2016-04-25T12:00:02","date_gmt":"2016-04-25T12:00:02","guid":{"rendered":"http:\/\/citifmonline.com\/?p=209436"},"modified":"2016-04-25T12:00:02","modified_gmt":"2016-04-25T12:00:02","slug":"nic-introduce-islamic-based-insurance-program","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=209436","title":{"rendered":"NIC to introduce Islamic based insurance program"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>Citi Business News<\/strong> has learnt the National Insurance Commission, (NIC) may soon introduce Islamic based insurance known as Takaful insurance.<\/p>\n<p style=\"text-align: justify;\">[contextly_sidebar id=&#8221;0unxuVyrNBxLenNIidLcSj8WelRkBch4&#8243;]According to the NIC, Takaful insurance is expected to play a key role in building Ghana\u2019s insurance industry, supporting a government bid to diversify the market and boost premiums.<\/p>\n<p style=\"text-align: justify;\">Takaful is a type of Islamic insurance, where members contribute money into a pooling system in order to guarantee each other against loss or damage.<\/p>\n<p style=\"text-align: justify;\">This type of insurance <strong>Citi Business News<\/strong> understands is based on Sharia, Islamic religious law.<\/p>\n<p style=\"text-align: justify;\">Speaking to <strong>Citi Business News<\/strong> the Commissioner of Insurance, Lydia Lariba Bawa said a consultant will be engaged soon to advise the commission on the implementation of Takaful insurance.<\/p>\n<p style=\"text-align: justify;\">\u201cThe principles of insurance are almost the same but with Takaful, there is a slight religious slant, so we have engaged an expert to advice us on the nature of that insurance so that we can introduce it in Ghana,\u201d she said.<\/p>\n<p style=\"text-align: justify;\">Lydia Lariba Bawa was also optimistic the move will contribute to the Commission\u2019s effort to increase insurance penetration in country,<\/p>\n<p style=\"text-align: justify;\">\u201cIn places where the Muslim population is higher like say the Gambia and Nigeria, Takaful insurance is gaining grounds. There is a Muslim community in Ghana that we can tap into by introducing the Takaful insurance. This is certainly another way to increase insurance penetration in the country,\u201d she observed.<\/p>\n<p style=\"text-align: justify;\">&#8211;<\/p>\n<p style=\"text-align: justify;\">By: Norvan Acquah-Hayford\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Citi Business News has learnt the National Insurance Commission, (NIC) may soon introduce Islamic based insurance known as Takaful insurance. [contextly_sidebar id=&#8221;0unxuVyrNBxLenNIidLcSj8WelRkBch4&#8243;]According to the NIC, Takaful insurance is expected to play a key role in building Ghana\u2019s insurance industry, supporting a government bid to diversify the market and boost premiums. Takaful is a type of [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":209445,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[32,171,11],"tags":[],"class_list":["post-209436","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-local-economy","category-top-stories"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/209436","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=209436"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/209436\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/209445"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=209436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=209436"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=209436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}