Catching tomorrow today! // ነገን ዛሬ እንያዝ!


What is Takaful?

“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.

  • The Takaful fund is managed and administered on behalf of the participants by a Takaful operator, who charges an agreed-upon fee to cover costs.
  • The claims are paid from the pooled fund which is called Takaful Participants’ Fund (TPF), and a portion of the fund will be invested in the Shari’ah-compliant business. The surplus amount, if any, shall be distributed among the participants, and at the time of deficit, an interest-free loan (Qard al-Hassan) will be taken from the company’s shareholder fund and will be repaid in the future.

Aman Takaful

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.