Posted by ummah on Mar 26, 2014 in Business & Money, Happening Now

Pilot Islamic-Compliant Livestock Insurance Product in Africa Pays Pastoralists in Drought-Prone Kenya

Long dry season takes its toll on livestock, over 100 herders compensated.

WAJIR, KENYA (25 March 2014)—Yesterday, for the first time in Africa, an insurance policy that combines an Islamic-compliant financial instrument with innovative use of satellite imagery is compensating Muslim pastoralists for drought-induced losses suffered in Kenya’s northeastern Wajir County, where livestock are valued at Ksh 46 billion (USD 550 million)….read more