Although the “term” Takaful is a contemporary invention, the Takaful notion has very ancient roots. There are numerous instances in pre-Islamic history where families, tribes, or connected individuals from the Arabian Peninsula pooled their resources to provide free and unrequited aid to the poor. Around 650 CE, the Prophet Muhammad (PBUH) endorsed their customs and incorporated them into the framework of the early Islamic state in Arabia. So, the first Islamic community in Medina is where Takaful initially appeared.

Subscribe to our Newsletter

Share this post with your friends

Leave a Reply

Your email address will not be published. Required fields are marked *