Ethiopia - Get Permission or License as Takaful Window Operater

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Procedure

Apply In-Person:

1. To Get Permission or License as Takaful Window Operator, the applicant has to approach National Bank of Ethiopia contact link
2. Applicant has to get the form from the respective officer.
3. Applicant has to fill-in all the necessary details in the application form.
4. Make sure that the applicant has to attach the documents mentioned in the “Required Documents” section of this page.
5. Applicant has to attach the photocopies along with the application form.
6. Submit the completed form and the necessary documents to the officer.
7. The applicant has to pay the license fee as per the authority request.
8. The authority officer will review the application and process the application.
9. Once the process is completed, the license is given to the applicant within the stipulated processing period of time.

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Required Documents

• A duly completed application form
• Company profile.
• Ownership structure (shareholding pattern)
• Organizational structure (present and proposed)
• Certificate of incorporation under Companies Ordinance, 1984.
• Certificate of registration under Insurance Ordinance,
• Memorandum of articles of association
• The name and occupation (including date and address of previous employment) of the applicant.
• Two passport size recent photographs of the applicant or the chief executive officer
• Curriculum Vitae of the applicant or the chief executive officer

Office Locations & Contacts

National Bank of Ethiopia
P.O Box: 5550
Tel: +251 115 517 430
E-mail: [email protected]
Fax: +251 115 514 588
Contact details link
Location details link

Eligibility

If the applicant is a natural person, he/she:

• Has to be an Ethiopian national
• Must not have been convicted of an offense involving dishonesty or fraud, whether in Ethiopia or elsewhere
• Should maintain a professional indemnity insurance cover or produce property guarantee of Birr50,000 (Fifty Thousand Birr)
• Should at least have a diploma from a poly-technique or similar institute in the profession he/she is applying for and
• Should have a diploma in insurance from recognized insurance institute and/or at least have seven years relevant experience in insurance, specifically, in underwriting and claims.

If the applicant is a juridical person:

• It shall be organized as a general partnership
• It shall be fully owned by Ethiopian nationals
• It shall maintain a professional indemnity insurance cover or produce property guarantee of birr50,000. (fifty thousand birr)
• The chief executive officer of the firm
• Should at least have diploma from poly-technique or similar institute in the profession he/she is applying for and
• Should have a diploma in insurance from recognized insurance institute and/or at least seven years relevant experience in insurance, specifically, in underwriting and claims.

Fees

• Fee for this procedure has to be paid as per the authority request.

Validity

• Validity of the license is for 1 year.

Documents to Use

Please attach documents that can be used by people. E.g. links

Sample Documents

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Processing Time

• Processing time of this procedure takes up to 30 days.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external 
websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• Applicant must complete the application form before submitting. Incomplete applications will not be accepted.
• Applicant must provide genuine information while applying for this procedure.

Required Information

• Name
• Address
• Contact number
• Email
• Gender
• Age

Need for the Document

• Takaful Operator license helps Window Takaful Operator to operate a conventional insurer offering Takaful services through Window Operations)

Information which might help

Enter other information which might help.

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

link

Others

More information which might help people.