Takaful in Islam  




Historical Developments and Creation of Takaful


Takaful is based on the relation of lineage and it is the first types of Takaful that have known to the human societies; where members of the family or tribe rise together to help the afflicted, and they assisted the concerned, but this interaction has been weakened due to the modern civilization. From this the needs for another form of cooperation and assistance emerged in the form of ‘Takaful’ based on contractual association ( Al Aqidiah ) to deal with modern forms of risks and accidents.

The Takaful insurance has passed through its natural development of two main stages:


First Stage:

The stage of simple Takaful insurance, a group cooperation of people who are exposed to a certain type of risk to cover the loss or damage that may affect some of them, and through their participation in cash amounts to cover damages that may affect anyone of them on the time of accident happen.


Second Stage:

The stage of multiple or developer of Takaful, who manages the insurance operations by specialized companies against realized fee due to increase of subscribers number and diversity of risks covered, and the first one who executed the modern Takaful (the developer) Islamic banks that had have established Takaful Islamic companies in (Sudan 1979), and this was the starts of establishment of many Takaful companies thereafter.