AGL 40.00 Decreased By ▼ -0.16 (-0.4%)
AIRLINK 129.53 Decreased By ▼ -2.20 (-1.67%)
BOP 6.68 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.63 Increased By ▲ 0.16 (3.58%)
DCL 8.94 Increased By ▲ 0.12 (1.36%)
DFML 41.69 Increased By ▲ 1.08 (2.66%)
DGKC 83.77 Decreased By ▼ -0.31 (-0.37%)
FCCL 32.77 Increased By ▲ 0.43 (1.33%)
FFBL 75.47 Increased By ▲ 6.86 (10%)
FFL 11.47 Increased By ▲ 0.12 (1.06%)
HUBC 110.55 Decreased By ▼ -1.21 (-1.08%)
HUMNL 14.56 Increased By ▲ 0.25 (1.75%)
KEL 5.39 Increased By ▲ 0.17 (3.26%)
KOSM 8.40 Decreased By ▼ -0.58 (-6.46%)
MLCF 39.79 Increased By ▲ 0.36 (0.91%)
NBP 60.29 No Change ▼ 0.00 (0%)
OGDC 199.66 Increased By ▲ 4.72 (2.42%)
PAEL 26.65 Decreased By ▼ -0.04 (-0.15%)
PIBTL 7.66 Increased By ▲ 0.18 (2.41%)
PPL 157.92 Increased By ▲ 2.15 (1.38%)
PRL 26.73 Increased By ▲ 0.05 (0.19%)
PTC 18.46 Increased By ▲ 0.16 (0.87%)
SEARL 82.44 Decreased By ▼ -0.58 (-0.7%)
TELE 8.31 Increased By ▲ 0.08 (0.97%)
TOMCL 34.51 Decreased By ▼ -0.04 (-0.12%)
TPLP 9.06 Increased By ▲ 0.25 (2.84%)
TREET 17.47 Increased By ▲ 0.77 (4.61%)
TRG 61.32 Decreased By ▼ -1.13 (-1.81%)
UNITY 27.43 Decreased By ▼ -0.01 (-0.04%)
WTL 1.38 Increased By ▲ 0.10 (7.81%)
BR100 10,407 Increased By 220 (2.16%)
BR30 31,713 Increased By 377.1 (1.2%)
KSE100 97,328 Increased By 1781.9 (1.86%)
KSE30 30,192 Increased By 614.4 (2.08%)
Supplements Print 2023-01-03

Surplus Distribution to Policyholders – A hallmark of

TEXT: Islamic Insurance initiated by Salaam Takaful in Pakistan Takaful and conventional insurance at first glance...
Published January 3, 2023

TEXT: Islamic Insurance initiated by Salaam Takaful in Pakistan Takaful and conventional insurance at first glance may look similar, in that they both share the objective of protection against financial loss, but a closer look will reveal stark differences between the two.

Surplus sharing among the participants is something that creates quite an evident distinguishment between conventional insurance and takaful. This is the utmost unique benefit of Takaful which not only protects policyholders against unforeseen circumstances, but also qualifies them for a share in the achieved surplus based on the performance of Participants’ Takaful Fund.

With the increasing demand of risk-managing and interest free solutions, many takaful operators across the globe have started offering the feature of surplus distribution. However, backed by its unprecedented growth and emergence as the leader in its respective field, Salaam Takaful Limited has created history by being the first and still the only general takaful operator in Pakistan to not only initiate this process of surplus sharing with its policyholders, but also announcing distribution for the second year consecutively. This initiative by the organization has gone down in history as the first instance of its nature, quite fervently appreciated by policyholders.

Surplus distribution doesn’t only involve the participants by enabling them to receive something back in monetary terms, but also upholds the belief in shariah-compliant solutions and resonates the fact that Takaful indeed is a better option when it comes to loss protection solutions.

Copyright Business Recorder, 2023

Comments

Comments are closed.