The Prophet’s (PBUH) reply to a Bedouin leaving his camel untied “Tie your camel first, then put your trust in Allah (SWT).”

The experts at Ma’an create bespoke solutions for Muslims who wish to build their dynasties in accordance with Islamic values and culture.

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Shari’a Compliant Inheritance & Asset Allocation

Ma’an has been crafted to accommodate the Shari’a inheritance laws for Muslims who wish to follow the tenets of Islam. The Ma’an team will work diligently to provide Shari’a compliant solutions, for inheritance and asset allocation through the establishment of a Foundation governed under the principles of Shari’a.

Foundation

Shari’a Compliant Investment Portfolio

Shari’a compliant investments are a form of socially responsible investing. Governed by the tenets of Islam, the Dynamic 6D Fund will exclude investments which derive an income from the sale of alcohol, pork products, pornography, gambling, weapons of warfare, etc.

Dynamic 6D Fund

Shari’a Compliant Takaful (Insurance)

Between the 7th-13th century, perils and risk associated with long distance trade via caravans and sea voyage gave birth to the emergence of mutual risk sharing. This system of community self-help and financial assistance formed the basis of Takaful commonly referred to as Islamic insurance.

Takaful originates from the word “Takafala” which means to mutually help, assist and guarantee to protect one another.
Takaful works under the principle of Islamic finance (wakala), using Shari’a compliant investment channels.
Seeking life cover under Takaful is consistent with Shari’a Law and deemed permissible by the Muslim World League based in the Holy City of Mecca, Saudi Arabia.

Shari’a compliant Takaful vs. Contemporary Insurance

Takaful	Insurance
Based on mutual cooperation (Ta’awun).	Based on compensation of loss in exchange of a fee (Premium).
Risks are shared and distributed amongst participants.	Risk transferred from individuals to insurance provider.
Free from non-Shari’a elements.	Might have non-Shari’a elements.
Surplus is shared amongst participants.	Surplus is shared amongst shareholders of the insurance company.
In case of deficit, Takaful operators (Wakeel) provide an interest-free loan (Qard Hasan).	In case of deficit, the shareholders of the insurance company bears the loss.

Islamic clarifications & misconceptions

Is risk protection against Tawakkul?

(Total dependence upon Allah (SWT*).

The Prophet’s (PBUH) reply to a Bedouin leaving his camel untied “Tie your camel first, then put your trust in Allah (SWT).”

Is risk protection Haram (Prohibited)?

Islamic Fiqh high council of Muslim World League at an Islamic Conference in Jeddah resolved that cooperative Insurance (Takaful) is permissible and fully consistent with Shari’a Principles. In case of deficit, Takaful operators (Wakeel) provide an interest-free loan (Qard Hasan).

Do all Insurance companies seek profit?

Takaful operators follow the Wakala Model. As co-operative entities they aim for community wellbeing, the surplus generated in the fund is returned to the policy holders.

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