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Egypt’s Misr Life Insurance has initially agreed with Arab African International Bank (AAIB) so that the latter would contribute with 49 percent in the new takaful insurance company capital.
Misr Insurance Holding’s Chairman Mohamed Youssef said that the company has obtained an agreement in principle from the bank adding that the final agreement is still under evaluation and study.
He added that establishing the new takaful insurance company aims to follow through the company’s strategy to create an integrated insurance entity, referring to the prominent role the insurance sector is playing in securing the national economy.
