Takaful Operator

A Takaful operator is a company that manages Islamic insurance arrangements known as Takaful. Unlike conventional insurance, Takaful is based on principles of mutual cooperation and shared responsibility, where members contribute funds into a common pool to protect each other against financial loss. The operator oversees the process, ensuring funds are properly managed and claims are fairly settled, all in adherence to Islamic laws (Shariah). It functions as a facilitator, maintaining transparency and ethical standards, while the participants collectively share the risks and benefits within a community-oriented financial model.