Takaful is a Shariah-compliant type of insurance. It can be used by both Muslim and non-Muslims community since there is no religious limitation.

It is based on the concept of social solidarity, cooperation and mutual indemnification of losses of members.

It is a pact among a group of members who agree to jointly indemnify the loss or damage that may inflict upon any of them out of the funds they donate collectively.

Come and be a member of our happy Family AHLI and help out each other!

Because Global Insurance Company (S.C) is the first Insurance Company to bring “Takaful” insurance to the Ethiopian Insurance industry at a pioneer considering financial inclusion and the need of customers.

In addition, people select us because we go above for our consumers and prioritize them over our policies. We are committed to our purpose of assisting individuals in protecting their assets, maintaining their lifestyle, and constructing a brighter future.

Takaful is a type of Islamic insurance wherein members contribute money into a pool system to guarantee each other. Takaful-branded insurance is based on sharia and any claims made by participants are paid out of the takaful fund.

There is no objection to insurance rather, only to a certain weakness in the Conventional insurance contract that is not acceptable based on Islamic Sheria which brings the problem of Gharar which leads to the Maisir and investment aspect, Riba.

A prevailing misperception about Takaful is that it is simply the Islamic version of traditional insurance, and thus is confined to those of the religion. The truth is, not only is Takaful open to anyone regardless of religion or creed, it is a financial management tool that differs in certain aspects from traditional insurance. Used wisely, Takaful can lead to better financial security and peace of mind knowing that you would be part of a risk management system that firmly upholds principles. Here we explore the differences between Takaful and conventional policies, and what they would mean for you.

In conventional insurance, the risk is transferred from the insured to the insurer. Takaful, on the other hand, is based on shared risk.

Each participant donates to a Takaful fund and in the event of loss, the participant will receive the amount of their claim.

• The participants agree to help one another out of their contributions at the time when any of them faces any loss.
• Claims are paid from the Takaful Fund and the underwriting surplus or deficit is shared by the participants
• The losses of the unfortunate few are shared by the contribution of the fortunate many who are exposed to the same risk on a cooperative risk-sharing basis.

We have a variety of product in our Takaful insurance as we have with the conventional insurance. If you would like to explore our Takaful product more….