Corporate and Individual Clients Commend Takaful International’s Surplus Distribution

Takaful International, the leading Islamic insurance provider in Bahrain, has witnessed strong interest from both individual and corporate clients in redeeming their surplus. This follows the company’s recent announcement of surplus distributions for its Motor and Property Takaful portfolios for the 2024 underwriting year.

Takaful International is the first takaful company in Bahrain to distribute surplus to policyholders—a pioneering move that underscores its commitment to Islamic Takaful principles while reinforcing transparency and customer trust.

The company confirmed that participants responded enthusiastically, redeeming their surplus promptly online through the company’s website and the “Smart Takaful” app. This demonstrates the high level of trust and appreciation clients have for this innovative initiative.

To further enhance transparency and foster direct communication, Takaful International also visited several corporate clients across the Kingdom to hand over their entitled surpluses. These visits were met with gratitude, as recipients praised the company’s genuine commitment to the principle of “participation.”

This initiative is part of the broader campaign “Powered by Sharing”, reflecting Takaful International’s dedication to fairness, cooperation, and transparency in all dealings with policyholders.

The surplus distribution process is conducted under the supervision of the company’s Shari’a Supervisory Board and guided by an independent actuarial expert, ensuring full compliance with Islamic Shari’a principles.

Participants can redeem their surplus through several options:

• Bank transfer (with a valid IBAN certificate)

• Discount on the next contribution upon policy renewal

• Donation to charitable causes via the Royal Humanitarian Foundation

The service is available via the website (www.gigtakaful.bh) and the “Smart Takaful” app, using either an ID or commercial registration number along with the policy or vehicle number.

Participants may redeem their surplus within five years from the announcement date or during the three-month period prior to policy expiry.