Takaful is an Arabic word, which means “togetherness”. Takaful, or Islamic insurance, is based on mutual cooperation, social solidarity, responsibility, assurance, protection and financial assistance between groups of participants to indemnify losses of members. It is a Shariah-complaint alternative to conventional insurance. Takaful policies allow the contributor to enjoy the same level of cover provided by conventional insurance.

Under Takaful, contributors jointly indemnify each other against loss or damage in respect of any tragedy in human life or loss to the business or property, thereby offering crucial protection against risk, whilst at the same time being Shariah compliant. The contributors pay contribution to assist and indemnify each other and share the profits earned from business conducted by the Company.