Takaful Concepts

TAKAFUL derived from Arabic words “Kafala”, means joint guarantee. Therefore, it is an islamic insurance scheme where participants jointly guarantee each other against loss or damage. It is one of the Muamalah within Hukm Fiqh. Your payments will be classified as Contribution (Tabarru”) to fulfill the deeds in assisting any participating member facing calamity.

TAKAFUL propagate mutual assistance in the spirit of brotherhood, solidarity and cooperation as Ad-Diya and Ad-Daman, which is practiced, approved and participated by Prophet Mohammad (pbuh). In the case of the Nile Takaful Company, it concerns the members of the public and companies contributing to, and benefiting from the Takaful protection plans.

TAKAFUL business is made-up of the contracts of TABARRU’, WAKALAH and MUDHARABAH, thus free of GHARAR, MAISIR AND RIBA. Takaful is for Protection, Saving and Investment Plan in compliance with Shariah that seek to secure genuine maslahah and prevent masfadah in this world, side by side with the hereafter.