Two products are now designated: Assafa Takaful Ousra which guarantees the payment of death or disability capital and Assafa Takaful Dari to cover real estate.
Bank Assafa in partnership with Wafa Takaful, launches the marketing of takaful insurance products, under its two variants of guarantees, death, disability and multi-risk building, and this in accordance with the opinions of the Superior Council of Ulemas and in consultation with the Control Authority Insurance and Social Welfare (ACAPS).
Concretely, the two products that will be marketed are Assafa Takaful Ousra and Assafa Takaful Dari.
The first is a participatory insurance contract which guarantees the payment of death or disability capital to cover Murabaha financing.
The second product is an insurance intended for customers who have provided Murabaha real estate financing and covers the property against the risk of fire and explosion,
Water damage and glass breakage. Multiple options to choose from are available depending on the value of the property.
It should be specified that the two undistributed surplus products can be kept in the account of the Takaful fund for the common interest of the participants, or be paid to recognized associations of public utility.