Takaful

Takaful is a cooperative insurance system rooted in Islamic principles. Participants contribute to a pooled fund, which is used to support members in times of need, such as accidents or health issues. Unlike traditional insurance, Takaful operates on a risk-sharing basis rather than profit-making. The goals are mutual assistance and financial security, aligning with Shariah law, which prohibits gambling and uncertainty. When claims arise, funds are distributed fairly among participants. This community-focused approach fosters solidarity and encourages responsible behavior, ensuring members support each other while adhering to ethical guidelines.