As part of Al Baraka Takaful Insurance’s commitment to providing innovative and reliable Takaful solutions, we are the optimal choice for those seeking comprehensive and trustworthy protection. Our services are based on the highest standards of quality and commitment to the provisions of Islamic Sharia, to provide comprehensive Takaful protection that meets the diverse needs of our participants with efficiency and transparency.
From this standpoint, we are pleased to clarify and highlight the essential elements of the Takaful Certificate, which represents the cornerstone of any Takaful contract. The certificate includes the following elements, making it easier for our clients to understand the technical and Sharia aspects of the contract.
Heading
Every Takaful certificate begins with a clear heading containing the name of Al Baraka, its logo, and its official address, reflecting the corporate identity and credibility, and affirming its commitment to the Takaful practice.
Preamble
Each certificate includes an introductory preamble that clarifies:
- The data of the contracting parties: The Participant (the person seeking coverage) and Al Baraka as the Wakala (Operator) to manage the Takaful Fund.
- An indication that the Takaful program application form is an integral part of the contract.
- Clarification that the certificate becomes effective only after the payment of the Contribution (Tabarru’) and the approved Wakala Fee.
- Affirmation of Al Baraka’s commitment, as the Wakala, to manage the Fund and provide Takaful protection in accordance with the terms and conditions stated.
Signature
The signature of one of the authorized officials of Al Baraka is included on the certificate, directly below or beside the preamble, granting the document its official status and legal and Sharia endorsement.
Contractual Text
This section is the essence of the Takaful contract, as it includes the details of the terms and conditions of the Participants’ Fund, the circumstances under which the participant or beneficiaries are entitled to a claim disbursement from the Fund, and the conditions required to activate these coverages.
Exclusions
This section indicates the cases not covered by the Takaful certificate. In line with Al Baraka’s commitment to transparency, which is the essence of our model, the exclusions are drafted in clear language, in a manner that ensures the participant understands the true limits of the coverage.
Conditions
The certificate includes a set of general and special conditions, including:
- The participant’s obligation to inform the company of any material changes in the nature of the risk.
- Adherence to the specified procedures when submitting a claim.
- Strict handling of cases of fraud or negligence that affect the validity of the donation.
- The necessity of taking necessary precautions to limit losses to the Participants’ Fund.
- Resorting to Shariah-compliant arbitration in case of a dispute.
- Application of the principle of contribution in the event of more than one Takaful certificate covering the same risk.
- The company’s right to cancel the contract within legal and Sharia frameworks.
- Commitment to the principles of Tabarru’ (donation), whereby the participant’s contribution is a gift to the Participants’ Fund to assist others.
Schedule of the Certificate
This schedule represents a summary of the data specific to the participant and the insured risk, and includes:
- The Takaful certificate number.
- The name and address of the participant.
- The nature of the activity or the insured risk.
- The period of coverage.
- A breakdown of the Contribution (Tabarru’) and the Wakala Fee.
- The limits of liability.
- Any special terms or exclusions, if applicable.
In Conclusion:
Al Baraka Takaful Insurance offers precisely designed certificates that combine comprehensiveness and clarity, are committed to the provisions of Islamic Sharia, and meet the requirements of our clients, whether individuals or institutions, making us the ideal Takaful partner to protect your future with confidence and professionalism.