Insuring Afghanistan’s Earthquake – June 22, 2022
An earthquake of magnitude 5.9 hit Afghanistan on June 22, 2022. A tragedy to the nation of 40 million people which has still been recovering from the events of the past few years.
The epicentre of the quake being in rural, remote mountainous region has caused the deaths of more than 1000 people, and many more have sustained injuries, lost homes, assets, and are displaced.
In March 2022, the Taliban government suspended the operations of public and private insurance firms in Afghanistan till further notice.
The government says that the spirit of the insurance industry is under discussion in the Science Academy of Afghanistan.
The Academy will examine and decide whether Insurance is against Islamic practices or not.
The suspension spells doom for the five insurance companies which were operating in Afghanistan.
It remains to be seen what the Academy decides, and if the recent earthquake will influence their decision.
