Takaful


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Takaful

An insurance structure compatible with Islamic law. According to most Muslim jurists, conventional insurance is disallowed, in part because it requires the insurer to gamble on the likelihood of an insured event's occurrence. This uncertainty is not permitted under the sharia.

Under a takaful, subscribers pay a certain amount, which is deposited into a pool of liquidity with other subscribers' contributions. Insured losses are paid out of that pool. In effect, a takaful is a mutual aid society in which the aim is not profit. However, a company may invest the pool of liquidity in sharia-compliant instruments and may keep a management fee. Takafuls have existed in one form or another for most of the history of Islam.
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Following is the text of press release issued by Pak-Qatar Family Takaful Limited
KARACHI -- Pak-Qatar Family Takaful recently organized 'Annual Sales Conference' in Bhurban, Pakistan to recognize the performance excellence of the Takaful Distribution Team across the regions of Pakistan.
KARACHI: Pak-Qatar Family Takaful Limited (PQFTL) opened its new branch in Bahadurabad area of the city.
KARACHI -- Pak-Qatar Family Takaful Limited (PQFTL) opened its new branch in Bahadurabad area of the city.
Karachi -- Pak-Qatar Family Takaful Limited (PQFTL) inaugurated its Gujrat city branch in Punjab recently.
Pakistan's capital market regulator has granted approval to the country's sole reinsurer to offer sharia-compliant reinsurance, part of efforts to boost the fledgeling Islamic insurance (takaful) sector.
ISLAMABAD -- The Securities and Exchange Commission of Pakistan (SECP) in exercise of its powers under Takaful Rules, 2012 has authorized the Pakistan Reinsurance Company Limited (PRCL) to conduct window re-takaful operations.
ISLAMABAD -- The Securities and Exchange Commission of Pakistan (SECP), in exercise of its powers under Takaful Rules, 2012, has authoriSed the Pakistan Reinsurance Company Limited (PRCL) to conduct window re-takaful operations.
Summary: Takaful Omans CSR initiatives are focussed on ameliorating the situation of the underprivileged in the society, working with environmental groups, developing SMEs and creating awareness on Islamic finance
Best suggests the right ingredients for the success of Takaful companies in the MENA region, writes Banker Middle East Takaful companies have gained momentum significantly in the last 15 years.
KARACHI -- Pak-Qatar Family Takaful Limited (PQFTL) - the first and largest dedicated Takaful enterprise in Pakistan's has announced the distribution of 28 percent surplus among its Individual Family Takaful Participants (Direct Sales Force-DSF) for the year 2017.