Takaful Insurance

Takaful Insurance

Takaful insurance is an insurance system that is not based on the principle of profit as a basis. Rather, it aims to fragment the components of the risks and distribute them among a group of contributors (the insured) through compensation paid to the affected contributor from the total proceeds of their contributions (premiums), instead of the damage being borne by the affected person alone. This is in accordance with the company’s system and the conditions included in the insurance policies, and in a manner that does not conflict with the provisions of Islamic Sharia.

The sublime meanings of solidarity are affirmed and advocated by the explicit Qur'an and the Sunnah of the Prophet. In the Holy Qur'an, we read the words of God Almighty: "And cooperate in righteousness and piety, but do not cooperate in sin and aggression."

From the pure Sunnah of the Prophet, may God bless him and grant him peace, is his saying: "The believer is to the believer like a building, whose parts strengthen each other." He also said: "None of you truly believes until he loves for his brother what he loves for himself." There is no doubt that all people desire for themselves the blessing of security and safety, which can only be achieved through cooperation and solidarity.