“Takaful” is the Shari’ah compliant brand name for the Islamic alternative to conventional insurance, which explains how individuals are responsible to cooperate and protect one another.
“Takaful” is free from interest (الربا) (riba), gambling (الميسر) (al-maisir), and uncertainty (الغرر) (al-gharar).
It is based on the principle of Ta’awan or mutual assistance, where participants contribute money into a pool system to guarantee each other against accidental and unforeseen loss or damage.
Having authorized by the National Bank of Ethiopia, our company is delighted to announce the launching of the Takaful service to address the ever-increasing needs of the society in general and our esteemed Muslim clients in particular.
Nile Insurance Company has launched the Takaful window service with a brand name of “Aman Takaful”.
Our Company has established a council of Shari’ah advisors who have ample experience in commercial jurisprudence/fiqh al-muamalat/, who ascertain every activityof the Takaful Window is performed in conformity with pertinent Shari’ah laws.
