TOKIO MARINE EGYPT Corporate Profile
Takaful is a simple co-operative way of
financial protection, that extends benefits to both participants and
community according to Shariah.It is based on the principles of Ta-awun
(co-operation), brotherhood and solidarity for financial aid between participants.
In the case of the TOKIO MARINE EGYPT Company, it concerns the members of the
public and companies contributing to, and benefiting from, Takaful
The contribution paid by
the participant under the Takaful scheme is considered as a donation, and
will be separated into two funds. These are known as protection
and investment, according to the nature of cover and the type
of plan being participated in. Both funds will be managed by TOKIO MARINE EGYPT
A portion of the
contribution, which is placed in the Protection Fund, is created by
donations from participants to pay all losses that occur. Therefore, the
liability is spread amongst all certificate holders, and all
losses/profits will be shared between the participants and TOKIO MARINE EGYPT.
The other portion of the contribution is placed in an Investment Fund.
All investments must be in compliance with Shariah which prohibits
investment in Haram activities and requires the use of instruments that
are free of Riba. The participants will be entitled to the profit
according to their share under the principle of Mudharabah.