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Takaful (Arabic: التكافل, sometimes translated as "solidarity" or mutual guarantee) [1] is a co-operative system of reimbursement or repayment in case of loss, organized as an Islamic or sharia -compliant alternative to conventional insurance, which contains riba (usury) and gharar (excessive uncertainty). [2]
Website. www .tazur .com. tʼazur Company is a Bahraini closed joint stock company incorporated under the laws of the Kingdom of Bahrain and licensed and regulated by the Central Bank of Bahrain. The company was founded by Bank Al Khair with an authorised capital of US$500,000,000, of which US$58,000,000 is issued and paid up. [1]
AED 1,173 million (2014)[1] Website. www.salama.ae. Islamic Arab Insurance Company (Arabic: الشركة الإسلامية العربية للتأمين) commonly known as Salama, سلامة is a takaful company based in Dubai, United Arab Emirates. The company and its subsidiaries operate in the UAE, Algeria, Egypt, Senegal, and Saudi Arabia. [2]
Islamic banking and finance has its own products and services that differ from conventional banking. [1][2] These include Mudharabah (profit sharing), Wadiah (safekeeping), Musharakah (joint venture), Murabahah (cost plus finance), Ijar (leasing), Hawala (an international fund transfer system), Takaful (Islamic insurance), and Sukuk (Islamic ...
The first Islamic insurance (or takaful) company – the Islamic Insurance Company of Sudan – was established in 1979. [65] The Amana Income Fund, [ 74 ] the world's first Islamic mutual fund (which invests only in Sharia-compliant equities), was created in 1986 in Indiana.
Etiqa is an insurer and takaful operator in ASEAN. It is a member of the Maybank Group, offering life and general insurance policies, as well as, family and general takaful plans. It has over 10,000 agents, 46 branches, 17 offices, and a bancassurance network consisting of over 490 branches, cooperatives, brokers, and online platforms across ...
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