Micro-Takaful in Sudan: Aligning Regulatory Requirements with Market Needs

Background: Micro-takaful, a subset of takaful, has distinct characteristics from traditional takaful.However, Sudan currently applies the same regulations to both micro-takaful and traditional takaful and insurance.Objective: This study aims to review Sudanese micro-takaful laws and regulations to determine their alignment with current micro-takaful practices.Methodology: The study employed content analysis to systematically review guidelines in relevant regulations and laws, including papers on micro-takaful and family takaful guidelines, to assess their alignment with micro-takaful practices.Findings: The findings show that Sudanese requirements for micro-takaful operations align with core micro-takaful principles: availability, affordability, value, transparency, and simplicity.Conclusion: Current Sudanese micro-takaful regulations align well with the essential characteristics of micro-takaful, meeting the needs of the target market.Implications: While existing regulations are appropriate, further research into broader distribution channels is needed to harmonise the rules and address the public's lack of trust in insurance and takaful.