TAKAFUL INSURANCE Co. was founded in the year 2007 according to decree (266) of the year 2007, with ten million dinars in capital, distributed over 100,000 shares at the value of 100 dinars per share. All shares were publically listed and we acquired in full by business people and investors.
Ever since its establishment, we at TAKAFUL have always had our sight on a vision based on providing leading insurance services that can be of a significant contribution and main attribution to the national economy. We at TAKAFUL believe in the vital importance of the insurance sector in reaffirming stability and trust in the economic environment. This belief has always allowed us to develop and update our insurance services in a way that matches global economic developments as well as being faithful to our Islamic identity. We offer a varied range of Sharia’a-compliant insurance services, for examples – but not confined to: car insurance, maritime insurance, travel and health insurance, family and individual life insurance as well as general and property insurance.
In order to deliver our services effectively and widely, we opened a number of branch offices of our company across different Libyan cities. Also, we accredited approved agents to deliver our insurance services at many vital locations such a in border crossings, seaports and airports in addition to authorized driving license outlets.
In 2012, in way of achieving our set goals as we moved into Islamic finance, we at TAKAFUL followed through this transformation and took the necessary steps to fully transform our business model into an Islamic Insurance Regime based upon the rules of the glorified Islamic Sharia’a. We acted as follows:
“In line with our commitments to improve our services and enhance our performance while maintaining the highest standards of trust and credibility, we began to launch our E-services that will ensure the highest levels of transparency in our transactions as well as facilitating the smooth running of our services and the speed of our delivery. We are also committed to our ongoing efforts to space out our electronic portal to incorporate insurance services on offer in TAKAFUL INSURANCE Co.”