In
these
schemes,
the
company
offers
the
Islamic
Takafol
as
Islamic
substitute
for
Life
assurance
scheme.
The
various
Takafol
Policies
issued
by
the
company
are
as
follows:
a.
The
Islamic
Modaraba
for
social
solidarity
and
investment
The
operation
of
modaraba
is
generally
aiming
for
the
investment
of
funds
for
savings
and
building
up
the
capital
of
participants
through
investments
and
trading
activities
in
conformity
with
Islamic
Sharia.
Ninety
percent
of
the
profit
will
be
reinvested
for
the
benefit
of
all
the
participants
and
the
remaining
ten
percent
of
the
profit
to
the
Modarib.
b.
The
Family
Takafol
Scheme
It
aims
at
verifying
Takafol
among
participants
in
case
of
the
death
of
any
one
of
them
or
any
one
of
his
family
members,
or
his
complete
and
permanent
disability.
Takafol
benefits
will
be
paid
to
the
beneficiary.
c.
Mortgage
Protection
Scheme
It
aims
at
verifying
Takafol
among
participants
in
case
of
the
death
or
Total
Disablement
of
the
Policy
holder.
The
contract
benefits
will
be
paid
to
the
beneficiary.
d.
Educational
Takafol
Scheme
It
aims
at
verifying
Takafol
among
participants
in
case
of
the
death
or
Total
Disablement
of
the
father.
In
this
case
the
Company
will
continue
paying
the
annual
educational
fees
to
the
beneficiaries
as
stated
in
the
contract.
