“Takaful will never converge into the conventional model. If it is going anywhere other than the theoretical takaful model,it will be [towards] the mutuals.”
(Sheikh Dr Mohamed A Elgari)


 

Takaful Insurance

Takaful is an Arabic word meaning “guaranteeing each other” or "joint guarantee".

The Tabarru' system is the main core of the takaful system making it free from uncertainty and gambling. Tabarru' means "donation; gift; contribution."

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Orphans Enjoy Ramadhan Treats with Takaful Malaysia

In the spirit of Muslim brotherhood - the holy month of Ramadhan, Syarikat Takaful Malaysia Berhad (Takaful Malaysia) extended its ‘Takaful myJalinan Kasih' Corporate Social Responsibility reach by hosting a...

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ICMIF's objectives in engaging the Islamic Insurance sector are to:

  1. Help the development of the sector utilising the experiences gained from the the cooperative and mutual insurance movement over the last hundred years.
  2. Support the growth of individual Takaful operators through dissemination of information and experiences and providing access to ICMIF member services.
  3. Assist existing takaful companies to understand and incorporate mutual and cooperative principles which are primarily policyholder representation in decision making and community involvement.
  4. Establish new cooperative and mutual based takaful schemes.
  5. Encourage the Federation’s members to look at the Muslim communities in their countries and serve them in their insurance needs.
  6. Provide access to microtakaful products for the low-income sectors of society.
 

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