Tanzania Insurance Regulatory Authority (TIRA)
Deputy Commissioner, Hon. Khadija Said - During CIFCA
Islamic Finance Monthly Debate.
The Takaful sector in Tanzania continued its trajectory of steady and structured growth throughout 2025. Although the market is still anchored by only two (2) primary Takaful operators, the overall ecosystem has broadened, reflecting rising interest in Shariah-compliant risk management solutions.
A significant driver of this progress has been the increased awareness campaigns spearheaded by the Tanzania Insurance Regulatory Authority (TIRA). As the government intensifies efforts to improve insurance literacy, promote financial inclusion, and expand risk-mitigation culture among citizens, these initiatives have translated into heightened visibility and appreciation of Takaful as a trusted ethical alternative. This momentum is expected to accelerate as TIRA’s national insurance awareness programs continue to gain reach, especially within underserved communities and emerging market segments.
During the Islamic Finance Monthly Debate, the Guest of Honour, Hon. Khadija Said, Deputy Commissioner of Insurance, remarked that CIFCA’s efforts in promoting Islamic finance education are commendable. She emphasized the importance of Takaful as a key tool for inclusive and ethical financial protection, highlighted the government’s commitment to strengthening the Takaful sector through robust policies and regulatory frameworks, and noted initiatives such as the 2022 Takaful Operational Guidelines and the introduction of “Takaful Ambassadors” to increase public awareness and adoption of Shariah-compliant insurance products in Tanzania. She further noted that TIRA is in the final stages of developing comprehensive Takaful regulations and continues to build the capacity of its staff to deepen their understanding of Takaful operations, thereby ensuring effective oversight of the industry.
As of 31 December 2025, there were two (2) Takaful companies in operation: ZIC Takaful started to be established, followed by First United Takaful, along with their brokers and agents. The presence of newly registered brokers and agents reflects a growing interest and increasing appetite for Takaful products in the market.
Takaful’s Market Impact and Outlook
The interplay between regulatory support, expanding distribution networks, and rising consumer awareness signals a strong foundation for future growth. Takaful is expected to benefit further from:
- Continued government campaigns on insurance literacy
- Increased product innovation, including digital and micro-Takaful solutions
- Growing alignment between Takaful and Islamic banking offerings (Banca Takaful)
- Rising demand from youth, SMEs, and faith-driven investors
Overall, 2025 demonstrated that Takaful is gradually transitioning from a niche offering to a credible and competitive risk-mitigation option within Tanzania’s broader insurance landscape. With continued regulatory support and industry collaboration, the Takaful sector remains well-positioned for stronger, and more inclusive growth in the years ahead.
