NIGERIA: Noor Takaful is mulling a listing on the Nigerian stock exchange, aiming to be the first Islamic insurance firm on the domestic exchange. Nigeria’s Commissioner for Insurance Olusegun Omosehin said the nation currently has five Takaful companies, four non-interest banks, 15 microfinance institutions and 10 non-bank financial institutions. The nation’s whole Islamic sector is worth US$3.8 billion – with Sukuk holding the largest share (59.3), followed by non-interest banks (39.8), while Islamic funds and Takaful insurance contribute 0.9%.
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