Takaful

Takaful,

What Does Takaful Mean?

  • Takaful definition is: The concept of a joint venture based on Islamic law. Takaful is structured like co-insurance and allows participants to add their own risk of loss, each paying a certain amount to help each other if necessary. Members must guarantee each other, with all participants sharing the disadvantages. One of the requirements of Takaful Cooperatives is that they cannot invest these funds in companies that are considered to be involved in activities prohibited by Islamic law. For example, investments in organizations dealing in tobacco, pork, alcohol, entertainment or gambling are prohibited. And since gambling, uncertainty and interest are attributed to traditional insurance products, investing in traditional insurers is prohibited.

  • Takaful is a type of Islamic insurance in which members deposit money in the pool system to protect each other from loss or damage. Takaful brand insurance is based on Sharia or Islamic religious law, which explains how people are responsible for cooperation and mutual protection. Takaful policies cover general, life and health insurance.

    • Takaful is a type of Shariah insurance in which members invest money in the pool system to insure each other.
    • Takaful branded insurance is based on Sharia or Islamic religious law and includes general, life and health insurance.
    • All participants' claims are paid from Takaful Funds

Meanings of Takaful

  1. A type of insurance system that complies with Sharia law, in which funds are raised and invested.

Sentences of Takaful

  1. He added that insurance in general, and Takaful in particular, is a new business opportunity with great potential in the region [Middle East and North Africa].

Takaful,

Takaful means,

  • The concept of a joint venture based on Islamic law, Takal, is formulated as a mutual insurance policy and allows participants to reduce the risk of loss by paying a certain amount to help each other. The members basically guarantee each other, the losses between the parties. One of the conditions of Takal cooperatives is that they cannot invest their funds in companies that are believed to be involved in activities prohibited by Islamic law. For example, investing in tobacco, pork, alcohol, entertainment or gambling companies is prohibited. And since traditional insurance is seen as an element of play, uncertainty and interest, investing in traditional insurers is prohibited.

  • Takaful means: Takal is a type of Islamic insurance in which members invest money in a plan to insure each other against loss or damage. Takland Insurance is based on Sharia or Islamic religious law, so people are committed to cooperating and protecting each other. Takal policy covers normal life and health insurance needs.

    • Takal is a type of Shariah insurance in which members deposit money in the system to insure each other.
    • Insurance is based on Sharia or Islamic religious law and meets the requirements of general life and health insurance.
    • Each party's claim is paid by Takal Na.

Meanings of Takaful

  1. A type of Shariah compliant insurance system in which funds are raised and invested.

Takaful,

How Do You Define Takaful?

  1. Takaful means, The concept of a joint venture based on Islamic law. Takal is designed as a mutual insurance policy and allows participants to reduce the risk of loss by paying a certain amount to protect the other if necessary. Members basically guarantee each other, distributing losses to all parties. One of the conditions of Takal Cooperative is that it cannot invest its funds in companies which are believed to be involved in activities prohibited under Islamic law. For example, investing in tobacco, pork, alcohol, entertainment or gambling companies is prohibited. And since traditional insurance is seen as a factor in the game, uncertainty and interest, investing in traditional insurers is prohibited.

  2. Takal is a type of Islamic insurance in which members invest money in a plan to insure each other against loss or damage. Takland insurance is based on Sharia or Islamic religious law, so people are bound to cooperate and protect each other. Takal's policy covers general life and health insurance needs.

    • Takal is a type of Shariah insurance in which members deposit money in the system to insure each other.
    • The insurance taken is based on Sharia or Islamic religious law and includes general life and health insurance requirements.
    • All claims of the parties are settled by trial.