The basic fundamentals underlying the takaful concept are very similar to cooperative and mutual principles, to the extent that the cooperative and mutual model is one that is accepted under Islamic law.
Takaful is an Arabic word meaning “
guaranteeing each other” or joint guarantee.
ICMIF's objectives in engaging the Islamic Insurance sector are to:
- Help the development of the sector utilising the experiences gained from the the cooperative and mutual insurance movement over the last hundred years.
- Support the growth of individual takaful operators through dissemination of information and experiences and providing access to ICMIF member services.
- Assist existing takaful companies to understand and incorporate mutual and cooperative principles which are primarily policyholder representation in decision making and community involvement.
- Establish new cooperative and mutual based takaful schemes.
- Encourage the Federation’s members to look at the Muslim communities in their countries and serve them in their insurance needs.
- Provide access to microtakaful products for the low-income sectors of society.
International Cooperative and Mutual Insurance Federation
Postal address:
PO Box 21, Altrincham, Cheshire, WA14 4PD, United Kingdom
Visiting address:
Denzell House, Dunham Road, Bowdon, Cheshire, WA14 4QE, United Kingdom
Tel: +44 161 952 5059
Fax: +44 161 929 5163
Email: sabbir@icmif.org
Web: www.icmif.org
Postal address:
PO Box 21, Altrincham, Cheshire, WA14 4PD, United Kingdom
Visiting address:
Denzell House, Dunham Road, Bowdon, Cheshire, WA14 4QE, United Kingdom
Tel: +44 161 952 5059
Fax: +44 161 929 5163
Email: sabbir@icmif.org
Web: www.icmif.org
News
May, 2008
Malaysia:Takaful Ikhlas Ties Up with Local Bank
Conferences
July, 2008
The 2nd International Takaful Summit and Masterclass, The Jumeirah Carlton Tower, London, UK
ICMIF Articles
March, 2008
Takaful 2.0, Using the Power of the Web to Release the Global Potential of Takaful
External Articles
February, 2008
Best's rating methodology: Takaful (Shari'a Compliant Insurance Companies)
Newsletters
February, 2008
Takaful Report Issue 1
Presentations
3rd Asian Takaful Conference, Singapore
Microtakaful