Overview of Takaful Industry in Somalia Takaful business is part of those who saw more opportunities here in Somalia, after Somali risk profile is changed. First Takaful and Retakaful and Takaful Insurance of Africa are the two official com- panies current working in Somalia and other parts of East Africa countries. Most of institutions in Somalia including Takaful industry are at their infancy; underdevelopment stage that will take time to build the institutions.