Tikari Takaful

Digital mutual insurance infrastructure supporting both Mudarabah and Wakalah operational modes.

Core Capabilities

True Mutual Insurance Free From Riba and Gharar

Tikari Takaful replaces conventional insurance risk-transfer with risk-sharing. Participants mutually protect one another through Tabarru (charitable donation pools).

Mudarabah & Wakalah Operating Engine

Configurable operating models: Wakalah (fixed agency fee for administration) and Mudarabah (profit-sharing on investment of participant funds), or hybrid structures.

Configurable operational models: Wakalah (fixed upfront agency fee for management)

Mudarabah mode: profit-sharing on invested participant funds according to pre-agreed ratios

Hybrid Wakalah-Mudarabah models compliant with regional regulatory codes (CIMA / COBAC)

Automated fee deduction and transparent accounting audit logs for Shariah boards

Participant Fund (PTF) Segregation & Tabarru

Guarantees strict segregation of donation pools from company operational capital. Manages participant contributions, reserves, and Shariah-compliant fund investments.

Strict, automated segregation of Participant Takaful Funds (PTF / Tabarru donations) from Shareholder Funds (SHF)

Zero commingling of risk donation capital with the operator's corporate balance sheet

Automated reserve calculation and Shariah-compliant treasury investment management

Built-in Qard Hasan (interest-free loan) mechanism to protect participant pools against underwriting deficits

Policy Administration & Participant Onboarding

Instant policy issuance for motor, health, property, trade credit, and micro-takaful. Supports recurring contribution schedules, direct debit, and mobile money collection.

Instant policy issuance for motor, commercial property, agricultural, health, and micro-takaful

Embedded credit life protection directly integrated into loan origination (LOS) pipelines

Flexible contribution frequencies: daily, monthly, or seasonal with mobile money integration

Automated renewal notifications, contribution receipts, and policy certificates

Claims Management & Surplus Sharing

End-to-end claims adjudication, loss adjuster assignment, and Shariah-approved settlement. Automated year-end underwriting surplus calculation and distribution to eligible participants.

Digital claims intake with loss adjuster assignment, photo evidence, and approval workflows

Rapid payout disbursement directly to participant bank accounts or mobile wallets

Automated annual actuarial calculation of net technical underwriting surpluses

Fair, Shariah-compliant distribution of surplus profits back to eligible participants

Dual Operational Modes

Full Support for Both Mudarabah and Wakalah

Choose the right governance structure for your operational and regulatory requirements.

Model 1Profit-Sharing

Mudarabah Mode

The Takaful operator acts as the Mudarib (fund manager), investing participant contributions in strictly Shariah-compliant instruments. Investment returns are shared between participants and the operator at a transparent, pre-agreed profit-sharing ratio.

Transparent profit-sharing ratio (e.g. 70/30 or 60/40)
Participant pool retains all underwriting surplus
Ideal for investment-linked savings and pension takaful

Model 2Agency Fee

Wakalah Mode

The operator acts as an agent (Wakeel) managing underwriting and claims administration on behalf of participants for a defined, upfront agency fee (Ujrah). Any underwriting surplus belongs exclusively to the participant pool.

Fixed, transparent agency fee (Ujrah)
Performance incentive fee tied to surplus generation
Widely adopted by African microfinance & mutual funds

Part of the Tikari Brand Ecosystem

Seamlessly integrates with the entire Tikari software suite for unified Shariah accounting, risk governance, and client servicing.

Launch Your Shariah Mutual Insurance Platform

From micro-takaful schemes to enterprise credit protection funds, deploy compliant Mudarabah and Wakalah insurance with Tikari.

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