Takaful (Family Plan)

Takaful in Arabic means “Joint Guarantee”

Takaful as an alternative to conventional insurance, provides Risk Protection in accordance with Shari by using the principle of Ta’awun (mutual assistance), brotherhood, piety and ethical operations. Takaful arrangements give every Muslim the opportunity to practice the virtues of Islam…including self-purification.

Key Features

  • Systematic savings for future needs e.g. Hajj, Retirement, House,
  • Investment of contributions in accordance with Islamic injunctions.
  • Profit sharing in line with the principle of Al-Mudharabah.
  • Provision for dependants in form of mutual assistance.
  • Creation of estate for your children/dependants in the event of death.
  • Tax relief on contributions.
  •  Takaful contributions not forfeited in the event of cancellation.
  •  Flexible maturity period.
  •  Flexible contribution.
  • Peace of mind without any financial worry after retirement.
  • Part withdrawal allowed.

Eligibility
Anyone between age 18 and 55

Mode of Payment:

  • Direct payment by cash or cheque
  • Bank Standing Instruction.
  • Salary Deduction.
  • Direct Debit Mandate.
  • Distribution of Contribution

Participant’s Accounts Al-Mudharabah Direct payment;

  • Salary Deduction.
  •  Direct Debit Mandate.
  • Distribution of Contribution.
  • Participant’s Accounts (Al-Mudharabah)
  • Bank standing instruction.


It serves as the savings account for each participant. A larger proportion of the participant’s contribution is credited into this account. The account is also credited with the participant’s share of profit.

This serves as the donation account. A smaller portion of the participant’s contribution is credited into this account.

The account caters for the payment of death benefits.

Below are the various Takaful plans available:

  • Al-Istidad Plan
  • Al-Nasir Plan
  • Arafat Plan 
  • Naatijatu-Daynu Plan
  • BaytuSurur Plan
  • Mudharabah Investment Plan