Islamic insurance on the rise in Turkey

According to a report by the Committee for Economic and Commercial Cooperation of the Organization of the Islamic Cooperation (COMCEC), Islamic insurance is expanding in Turkey which reported 1.4 billion USD in premiums at the end of 2018.

Turkey accounts for 5% of the global Takaful premiums estimated at 28 billion USD. Its market share increased from 1.5% to 5% over the last five years. Four fully Takaful companies and eight conventional ones practicing Islamic insurance operate on the local market.

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