Takaful as globally acknowledged refers to a concept of Insurance that is based on the Principles of togetherness, Co-operation and Mutual Solidarity. Unlike Conventional Insurance, Takaful is based and Operated on the tenets of Shariah and avoids prohibited and Haram activities involving Riba (Interest), Maisir (Gambling) and Gharar (Uncertainty).

The Operational Framework can be simply explained as a system where each member contributes a given premium to a General Takaful fund managed by the Takaful operator in accordance to the Shariah Principles. Through the Concept of Tabarru’ (donation), The Members allow the Takaful Operator (Takaful Insurance of Africa-TIA) to pay any Losses suffered by the Participants contributing to the pool. Any surplus left from the contribution after Payment of Claims and Other expenses is distributed among the participants. This is referred to “Surplus Refund” in Takaful.

Takaful family has since expanded to the horn of Africa, with offices opening in Hargeisa, Garowe, Kismayo and Mogadishu. Takaful is a pioneering dynamic insurance company introducing a new and exciting ethical perspective to the Insurance market in the horn of Africa region. The rationale behind Takaful lies in the need to provide risk management and financial security services that are founded on ethical principles and values.