Takaful is a very popular Islamic product which has been introduced by many Islamic banks and this Islamic product is very successful in Islamic countries and gaining worldwide recognition in non Muslim countries it is very similar to the western concept of insurance. But the concept of Takaful is based on mutual sharing so it can be considered mutual insurance. The main objective which can be achieved by implementing Takaful is mutual cooperation, mutual responsibility, and mutual protection. So these three main objectives laid the foundation of a socially integrated society as well as it is a gesture of solidarity towards the well being of society.
Various Islamic banks have introduced Takaful as their finance product. A group of people mutually guaranteed each other against any loss or damage every policy holder has to pay his agreed subscription into a fund which is managed by third party. In case of loss the loss is shared by all participants who is paid by Takaful operator (bank). In case of surplus, only the requirements of participants has been fulfilled so Takaful is a profit sharing venture as well as it protects the funds of participants and the Takaful operator (Islamic bank).
Recently Noor investment group which is Dubai based and provide financial solution according to Shariah compliance has announced that Noor Islamic bank has achieved the mile stone for best business product and Noor Takaful as the best insurance product of the year. This has been awarded by the banker Middle East product awards. Noor Takaful was recognized for its online availability which becomes the cause of its nationwide popularity. Noor Takaful has been introduced by Noor Islamic bank in January 2009 the group by its unique strategy and expertise made this product successful and achieves this great hallmark.
The bank has introduced family Takaful, Medical Takaful the main cause of the product’s popularity is its online services easy processing , you can make payment online as well as the group has introduced different discount for its different packages. Now you can purchase Takaful insurance online. It also provides the opportunity to its customer how to cover your policy on easiest way. So Noor Islamic bank provides full access to its customers and customers do rely on their services and feel free to invest in Takaful online. This is what makes it unique.
Noor Islamic bank has introduced various Takaful products at the same time. Such as the universal Takaful group, Medical Takaful for labor workers, Motor Takaful, Home owners Takaful, Travel Takaful and Group general accident Takaful. These Takaful series provides you life time protection, a guarantee of your saved money, secure future for your child and Takaful for labor workers is a grand opportunity for any organization to maintain their good will by providing such facility to its laborers, universal Takaful is a life time guarantee of your children’s future no worries regarding their health and education if you have universal Takaful at your disposal .Home owner Takaful is the best Takaful which protects your home from any natural calamity and is helpful to recover your loss same is the case with motor Takaful that guarantee’s to keep your vehicle away from any loss or damage caused by any accident.
So a series of Takaful which has been introduced buy Noor Islamic bank is really very useful and needs to be appreciated as it totally based on Islamic rules and regulations. So Takaful is a best instrument for the welfare and well being of society.
-- Al Arabiya Digital