Takaful means “guaranteeing each other” in Arabic. It is an Islamic system of mutual insurance built around the concept of ‘tabarru’ (donation, gift).

‘Tabarru’ contributions are made with the intention to help other participants faced with difficulties and to eliminate the resemblance of Takaful to gambling and exploitation. Each participant contributes to a fund to cover any claims, while also benefiting from a share of any surplus declared.

The Takaful Company’s role is to manage the Takaful operations and invest in Takaful contributions in line with the Shariah principles. Participants share in the profits of the fund with the understanding that these may be forfeited to cover losses. When there is a surplus, it is jointly shared.