"To utilize the experience and expertise of ICMIF microinsurance members to facilitate the provision of Takaful products to the underserved and low-income populations"
Since the establishment of the ICMIF development function in 1963 ICMIF has been involved in the setting up of 25 insurance schemes. As well as the wealth of experience available from its larger members ICMIF provides direct assistance through technical experts, training, capital, and lobbying at the regulatory level helping the basic insurance scheme grow and provide additional coverage and products. The cooperative values of self-help, solidarity and social responsibility are prominent in the principles of Takaful and the proposed microtakaful support centre is designed to utlise ICMIF's experiences and know-how in this area to extend protection to the poor.Support could be in the form of financial or technical assistance, retakaful, training, Shariah advice etc and can be decided on a case by case basis.
The steering group is composed of the following ICMIF members: