Description

Takaful is an Islamic insurance concept based on principles of mutual cooperation, shared responsibility, and risk-sharing. In takaful, participants collectively contribute to a common fund, which is used to provide financial support to members in case of specified losses or events. This system complies with Shariah law, avoiding elements such as interest and uncertainty. Takaful aims to provide insurance coverage while adhering to Islamic ethical and financial principles, making it a halal alternative to conventional insurance. Participants share both the benefits and the financial burdens, fostering a sense of community and mutual support.