Takaful is Shariah-compliant protection plan based on mutuality or mutual help, where the risk is not transferred but shared by the participants who form a common pool. The company acts only as the manager of the pool.

The element of 'uncertainty' i.e. 'gharrar' is brought down to acceptable levels under Shariah by making contributions (ishtirak) as 'Conditional Donations' (tabarru) for a good cause i.e. to mitigate the loss suffered by any one of the participants.

The participant pays the contribution (ishtirak) in the spirit of Ne'ea (purity) and brotherhood, which removes the element of 'maisir' without losing the benefit of Takaful in the same way as a conventional insurance.

Funds are only invested in non-interest bearing, i.e. riba-free instruments and the surplus belongs to the participants and is accordingly returned to them (in proportion to their respective shares of contributions) at the end of the accounting period.

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