Takaful

The Takaful Concept

Takaful in a nutshell means ‘joint guarantee’. Its basic idea is where a group of people agree to a contract and cooperate to assist each other in the event of misfortune of a participant.

All parties to a contract must conduct in accordance to the utmost good-faith principles. The transactional aspect of Takaful is subject to Shariah or Islamic law.

In keeping with the practice of mutual cooperation and mutual guarantee, Takaful embraces the approach of assistance within the participants of the group.

The business activities of a Takaful company like CIMB Aviva Takaful Berhad are supervised by the Shariah Committee to ensure the Company’s operations and products comply with Shariah.