{"id":22085161,"date":"2024-09-23T10:10:48","date_gmt":"2024-09-23T07:10:48","guid":{"rendered":"https:\/\/fra.gov.eg\/%d8%a7%d9%84%d8%aa%d8%a3%d9%85%d9%8a%d9%86-%d8%a7%d9%84%d8%aa%d9%83%d8%a7%d9%81%d9%84%d9%8a\/"},"modified":"2026-04-14T11:13:55","modified_gmt":"2026-04-14T09:13:55","slug":"%d8%a7%d9%84%d8%aa%d8%a3%d9%85%d9%8a%d9%86-%d8%a7%d9%84%d8%aa%d9%83%d8%a7%d9%81%d9%84%d9%8a","status":"publish","type":"page","link":"https:\/\/fra.gov.eg\/en\/%d8%a7%d9%84%d8%aa%d8%a3%d9%85%d9%8a%d9%86-%d8%a7%d9%84%d8%aa%d9%83%d8%a7%d9%81%d9%84%d9%8a\/","title":{"rendered":"Takaful Insurance"},"content":{"rendered":"\t\t
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Takaful Insurance<\/span><\/strong><\/p>

Compliant with Islamic Sharia Principles<\/span><\/strong><\/p>

Insurance is considered a vital necessity that protects individuals and institutions from financial losses arising from the occurrence of unforeseen events. It provides a sense of security when facing specific risks, helping to avoid their adverse consequences or at least limit them to the narrowest possible scope.<\/p>

Insurance is also regarded as one of the most important strategic services within a national economy and a fundamental pillar supporting economic and social life in advanced societies. Economically, it plays a vital role by collecting insurance premiums and investing them in various sectors, while socially it contributes to ensuring stability and welfare. Over time, insurance has evolved into a profession governed by precise scientific principles and regulatory frameworks.<\/p>

The concept of insurance originated from the principle of cooperation and solidarity in bearing risks that may affect individuals or groups, through the distribution and sharing of losses among members of a community.<\/p>

Historically, references to early forms of risk-sharing can be found in the Code of Hammurabi (2250 BC), where Babylonian merchants agreed that if one of them lost a ship, another would be constructed for him. This concept later spread to England through Italian merchants in the fourteenth century, who established commercial arrangements that strengthened their financial influence. The Marine Insurance Act of 1745 granted legal recognition to such arrangements, increasing their importance.<\/p>

Among the most prominent insurance institutions that emerged was the Lloyd’s of London, a global insurance marketplace based in the United Kingdom. Its structure resembles an association that organizes members into small groups known as syndicates, typically consisting of 10 to 20 or more members who collectively underwrite specific risks. A governing council manages its operations. Over time, this institution has developed into one of the largest insurance markets in the world.<\/p>

Land insurance appeared during the seventeenth century, most notably in the form of fire insurance, which gained prominence following the Great Fire of London, an event that destroyed approximately 85% of the city\u2019s buildings. In response, marine insurance companies expanded their activities to include land insurance and coverage against various risks. At the same time, several fire insurance companies were established in France, England, and other European countries.<\/p>

During the nineteenth century, new types of insurance emerged, including liability insurance, workers\u2019 compensation, coverage for damages caused by horses, and automobile insurance. These developments were driven by the rapid progress of the Industrial Revolution, the spread of mechanical machinery, and the growing risks faced by workers.<\/p>

In the modern era, insurance has expanded significantly due to the complexities of contemporary life and the resulting increase in risks. Insurance products now cover natural disasters, aviation transport risks, machinery breakdown, credit risks, and civil liability, among many other areas.<\/p>

The concept of Takaful insurance emerged in the late 1970s as a complementary component of the broader development of Islamic banking. The first Takaful insurance company was established in Sudan in 1977 by Faisal Islamic Bank.<\/p>

This was followed in 1979 by the establishment of the Islamic Arab Insurance Company (Salama) in the United Arab Emirates, initiated by Dubai Islamic Bank. Subsequently, Takaful insurance evolved independently from Islamic banking, leading to the establishment of numerous standalone Takaful companies worldwide.<\/p>

Several key milestones have contributed to the global development of Takaful insurance, most notably:<\/p>