Takaful Ikhlas Berhad (Takaful IKHLAS) is a wholly-owned subsidiary of MNRB Holdings Berhad. Our business operations and management are in accordance with Shariah principles. We stress on ensuring equity and fairness in all our dealings as we believe in providing "ease of doing business" to our most important partner - our Customers.
In line with international and local developments in the practice of Islamic financial protection services, Takaful IKHLAS has adopted the Wakalah contract as our system and have modelled our operations accordingly. Wakalah is a form of representative relationship between Takaful IKHLAS and a participant (Principal/Customer).
Takaful IKHLAS employs the following contracts to govern our business:
a. Tabarru' is a contract where the participant agrees to donate a pre-determined percentage of contribution to the Risk Fund to provide assistance to fellow participants in time of misfortune.
b. Wakalah is a contract where the participant authorises Takaful IKHLAS to conduct the affairs of Takaful business i.e. providing protection, investment etc. on his/her behalf. This concept allows Takaful IKHLAS to receive a fee from the Participants known as a Wakalah Fee.