Report Of Takaful Talk

Last Thursday at 4.00 p.m until 6.00 pm we were given a talk about takaful by Mohd
Ridwan Bin Roslan , Eksekutif Jabatan Pematuhan Shariah, Takaful Ikhlas Berhad. He have
4 years experience in Islamic financial. He studied at University Al- Azhar, Kaherah Mesir.
He got Islamic financial planner certificate.
Takaful is an Arabic word meaning guaranteeing each other or joint guarantee. The
Tabarru system is the main core of the takaful system making it free from uncertainty and
gambling. Tabarru means donation, gift, contribution. Each participant needs protection
must be present with the sincere intention to donate to other participants faced with
diffilculties. Therefore, Islamic insurance exists where each participant contribute into a fund
that id used to support one another with each participant contributing sufficient amounts to
cover expected claims. The objective of takaful is to pay a defined loss from a defined fund.
Takaful is a co-operative system of reimbursement or repayment in case of loss, paid
to people and companies concerned abaout hazards, compensated out of a fund to which they
agree to donate small regular contributions managed on behalf by a takaful operator. It is
defined as an Islamic insurance concept which is grounded in Islamic muamalat, observing
the rules and regulations of Islamic law.
Muamalat is set of rules (fiqh) related to worldly matters such as business, trading,
commerce transactions, lending and borrowing contract. Muamalat also involves the rules
regarding the social interactions between human such as marriage, inheritance (waqaf
faraidh) and other human activities.
In takaful, the element of uncertainty(gharar) is b rought down to acceptable levels
under shariah by making contributions as conditional donations (tabarru) for a good cause
to mitigate the loss suffered by any one of the participants. In conventional insurance it
contains thr elements of uncertainty which is forbidden in islam. There is an uncertainty as to
when any loss would occur and how much compensation would be payable. In takaful,the
participants pays the contribution (tabarru) in the spirit of neea (purity) and brotherhood.
Hence it obviates the elements of maisir while at the same time without losing the
benefit of takaful in the same way as conventional insurance. In conventional insurance, it
contains an element of gambling maisir in that the insured pays an amount (premium) in the

expectations of gain. If the anticipated loss does not occur, the insured loses the amount paid
as premium. If the loss does not occur, the insurer loses a far larger amount than collected as
premium and the insured gains by the same.
As a conclusion, Takaful is basically open to all and not just for muslims, nonmuslim people can be the takaful participants. The benefit that we can get are insurance
participants have set the intention for mutual help among the participants in the event of
disasters. Secondly, participants get the insurance guarantee fund management services as
well as Islamic insurance company. lastly, participants can earn a profit from insurance
investment objectives clearly halal status.
Through the spirit of cooperation and joint responsibilities among participants, the act
of charity and benevolence allows participants the opportunity to obtain two forms of benefit.
First, the monetary benefits through the takaful plan itself. Secondly, the benefits in the
spiritual sense, through the act of tabarru.(donation), participants will receive gods grace and
blessings in the hereafter. the takaful system does not differentiate colour or creed, it is meant
to benefit to all participants irresoective of their religious beliefs.

Photography session with Mr. Mohd Ridwan Bin Roslan