QIIB signs agreement with Morocco to set up TakafuI Assurances

MoU signed for the implementation of Takaful. Credit: Qatar News Agency

A Memorandum of Understanding (MoU) was signed to establish the insurance company Takaful au Maroc, which is a new company approved by ACAPS and dedicated to participatory insurance. It was created through the subsidiary Holmarcom Insurance Activities (HIA) Peninsula.

This memorandum was certified in cooperation between Qatar International Islamic Bank (QIIB), Qatar Islamic Insurance Company, Atlanta Insurance Company and Crédit Immobilier and Hôtelier (CIH). The Memorandum of Understanding was signed in Casablanca in the presence of QIIB President Sheikh Khalid bin Thani bin Abdullah Al Thani.

The partnership agreement was signed by Mohamed Hassan Bensalah, chairman of the board of the Atlanta insurance company, Lotfi Al Saqqat, chairman of CIH, Abdulbasit Ahmed Al Shaibei, CEO of QIIB, and Ali Ibrahim Al Abdulghani, chairman of groupe chez Qatar Islamic Insurance Company.

The memorandum stipulates that the company’s shares will be distributed during the creation, so that the shares in Atlanta Company represent 60% of the capital, CIH Bank 20%, QIIB 10% and Islamic Insurance 10%.

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