Takaful operators

Takaful operators are organizations that offer cooperative insurance based on Islamic principles. Unlike traditional insurance, which involves risk transfer for profit, Takaful operates on mutual support among participants. Members contribute to a shared fund, which is used to assist those facing losses or damages. This system promotes risk sharing and community help, aligning with Islamic values of cooperation and fairness. Takaful is often used to cover health, property, and personal risks, ensuring that the financial support provided is ethical and in accordance with Sharia law.