Takaful definition

Takaful means a scheme based on brotherhood, solidarity and mutual assistance which provides for mutual financial aid and assistance to the Takaful Participants in case of need whereby the Takaful Participants mutually agree to contribute for that purpose.

Takaful means an arrangement based on mutual assistance under which Takaful Participants agree to contribute to a common fund providing for mutual financial Benefits payable to the Takaful Participants or their beneficiaries on the occurrence of pre-agreed Events.

Takaful means Shariah-compliant insurance coverage, provided by Takaful Company for the benefit of the investors.

Examples of Takaful in a sentence

• FOR FURTHER PARTICULARS, please contact Public Bank Berhad – Wilayah Credit Control Centre (Ref No: WCCC/BSP/RU/HKZ/Xxx Xxx Sun), Tel No. 00-00000000) or M/S Xxx Xxxxxxx & Xxxx, of Level 21, Main Block, Menara Takaful Malaysia, Xx. 0, Xxxxx Xxxxxx Xxxxxxxx, 00000 Xxxxx Xxxxxx.

• Pursuant to Recital (B) below, the Customer has applied to Momentum for the Commodity Murabahah - Takaful premium financing facility to be utilized towards the payment of the premium in respect of a Takaful cover for the Customer’s Asset (defined in the General Conditions) by Momentum to a Takaful company on behalf of the Customer.

• Performance Guarantee means an amount deposited by a Service Provider, in the form of cash/bank/insurance guarantee (Takaful) (issued by a company having AA rating) for performance of Hajj operation to the satisfaction of the MORA&IH.

More Definitions of Takaful

Takaful means the takaful policy in respect of the Asset.

Takaful means a mutual assistance scheme based on the principles of solidarity, brotherhood and cooperation. Each Participant agrees to contribute (donate) into the PRF as Tabarru‘ which will be used to assist each other in times of need.

Takaful means a scheme in compliance with Shariah principles based on brotherhood, solidarity and mutual assistance which provides for mutual financial aid

Takaful means a scheme in accordance to Hukum Syara’ based on brotherhood, solidarity and mutual assistance which provides for mutual financial aid and assistance to the participants in case of need whereby the participants mutually agree to contribute for the purpose;

Takaful means Shariah-compliant Insurance Coverage, provided by Takaful Company for the benefit of the investors and subject to the terms and conditions in this Supplementary Offering Document.

Takaful means mutual assistance, based on the spirit of brotherhood and solidarity, whereby the Participants agree to assist each other financially in case of certain defined needs. CW/MSPIK/TE/2022V01

Takaful means insurance based on principles of mutuality and co•operation consistent with the religion of Islam and effected in conformity with the Syariah, and includes family takaful business and general takaful business, and “re-takaful means a business whereby a person called the re-takaful provider assumes part of the liability under an original contract of takaful or of another re-takaful provider;