The participant pays regular contributions to the takaful operator for the purpose of future security of the subject matter at risk. Theoretically, everybody, regardless of age, class, religion, sex or any form of identification, has a natural right to buy a policy for the material security of property, life or business ventures. But in practice, the right of mutual cooperation may not be rendered to some people in society because of some reasons which do not permit them to exercise the equal right of mutual cooperation. For further details see: Islamic Financial System; Principles and Operations.
|Segregation of Takaful Funds|
|Nomination Based on Hibah under Takaful Scheme|
|Principle of Utmost Good Faith in Takaful|