Takaful(Shari'ah Compliant Insurance)

NBK Insurance Agency Ltd being an agent of Takaful Insurance of Africa (TIA) among other insurance companies, means that we offer Shari’ah compliant products such as Motor and Family Takaful covers to our National Amanah customers.

Takaful is an Arabic word meaning “guaranteeing each other” or ‘’joint guarantee”.

We operate under the basic fundamentals of the Takaful concept which are similar to cooperative and mutual principles. This is what is acceptable under Shari’ah.

Why choose Takaful(Shari'ah Compliant Insurance)

The principles of Takaful Insurance are:

  • Policy holders cooperate among themselves for their common goal.
  • Every policyholder pays his subscription / contribution to help those that need assistance.
  • Losses are divided and liabilities spread according to the community pooling system.
  • Uncertainty is eliminated in respect of subscription and compensation.
  • It does not derive advantage at the cost of others.
  • The pooled funds are invested in Riba free investments hence Halal.

Interested in Takaful(Shari'ah Compliant Insurance) or have a question?

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