• You can choose any duration for your Protection Plan to meet your financial needs, from 5 up to 48 years.

• You can choose the level of protection that best suits your circumstances.

• You can assign any beneficiary to receive the benefits of your Protection Plan permissible within Islamic Shariah laws.

• Annual surplus if any from the Takaful Ta'awuni Account will be returned to each participant, on a pro-rata basis, and credited to Takaful Ta'awuni Protection Plan subject to a wakala performance fee.

• You may donate this surplus to charity if you desire

Takaful Ta'awuni is a system of mutual cooperation for financial assistance and risk protection based upon the Quranic principle of "Ta'awuni," or mutual assistance.

"Takaful" is a noun stemming from the Arabic verb "Kafala"meaning to take care of one's needs. Takaful means mutual help among a group, i.e. each member of the group pools resources and efforts to support the needy participants within the unfortunate few. As an Islamic acceptable alternative to conventional insurance, Takaful Ta'awuni enables every participant to have a solid financial protection plan for himself and his family. In this way, as a participant in a Takaful Ta'awuni Protection Plan you can realize peace of mind. You can be comforted in the knowledge that your chosen level of protection, in the event of death (God forbid), will provide financial security and continuation of the lifestyle your family and loved ones are accustomed to.

Mutual cooperation among tribal members in the Arabian peninsula was practiced 14 centuries ago. These practices were accepted and validated by Prophet Mohammed (P.B.U.H), and incorporated within the community of the first Islamic state

In the constitution in Madina Al Munawara, organized by Prophet Mohammed (P.B.U.H), there were references directly to concepts of social insurance for the less fortunate. Taking these age-old social practices into consideration, the experts in the Takaful Ta'awuni Division of Bank Aljazirah have designed an innovative program to achieve financial protection and Halal savings that fulfill a range of financial needs for today's Muslims.

The shariah Committee of Bank Aljazira, over a period of 18 months, studied and reviewed the Takaful Ta'awuni Program, the various contracts, procedures and mechanism and made changes and adjustments to make the program fully compliant with Shariah rules. From time to time, the Shariah Committee through regular review will assure the compliance of the implementation of such plans to meet the rules and procedures issued by the Shariah Committee

The Shariah Committee issued the following fatwa:

Bank Aljazira's Takaful Ta'awuni Program welcomes all members of the community in Saudi Arabia, locals and expatriates.

If you would like to know more about the Takaful Ta'awuni Protection Plan and how to participate, you can arrange an appointment with a Bank Aljazira Takaful Ta'awuni Financial Consultant to help you customize a plan to meet your family's financial and protection goals. The costs and Wakala charges relating to the Plan, are described in the contract schedule. You can contact us in various ways as follows: