 
Contact Address Details:
Takaful
Gambia Company Ltd.
Banjul capital Head Office
Independence Drive
The Gambia,
West Africa
Tel no: +220 4380158
4380155
4380157
Fax: +
Email: info@takafulgambia.com
Branches:
Kairaba Avenue - Tel no: as above
Basse Santa Su - "
Farafenni - T: - "
Serrekunda T: - "
Tallinding Agency Office - T: - "
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Information:
Takaful Gambia Ltd.  is
an Islamic insurance company which began in Banjul in December,
2007. It is based on the principle "al-Mudarabah"
or profit sharing contract.
This system of
Islamic Insurance is based on the concept of "Takaful" which
translated means "joint guarantee".
With this in mind policy
holders of TGL will be entitled to earn revenue on the premium in
consideration for their use of TGL's products subject to the
announcement of profit.
Their policies include Banca Takaful,
fire, travel, personal accident, marine, medical and general car
insurance policies that cover most liabilities.
Membership is open to all individuals irrespective of their religious
beliefs.
All investment choices and operational issues are
supervised by a Sharia Advisory Council in Gambia.
Takaful Insurance Policies:
* Note: Life assurance is not covered.
Takaful has a broad selection of insurance policies tailored to
individual risks and allied perils which you may face in The Gambia.
It is of great importance to them that each policy is suited to
individual requirements.
| Policy Type |
|
Policy Cover |
| |
|
|
| Advance Payment Bond |
|
Advance Payment Loss |
| Banca Takaful |
|
Loans (unemployment, death) |
| Property Burglary (Business/Private) |
|
Breaking in theft. |
| Cash In Transit |
|
Loss / theft of money during transportation |
| Employer's Fidelity Guarantee |
|
Employee crime/embezzlement |
| Employer's Liability |
|
Employee accident/injury |
| General Fire Insurance |
|
Property damage, personal injury |
| Goods In-Transit |
|
Goods In Transit (damages/losses) |
| Personal Accident Group |
|
Group death / harm |
| Marine Freight |
|
Maritime cargo loss or damage |
| Medical |
|
Medical (illness/injury) |
| Car Insurance (Third party / comprehensive) |
|
Motor damage / public injury) |
| Performance Bond |
|
Contractors |
| Personal Accident |
|
Physical injury |
| Public Liability |
|
Public physical injury |
| Travel Insurance |
|
Sickness / loss of luggage |
Claims Procedure:
It is the aim of Takaful to settle genuine claims in
a timely manner however, prior to making any claim it is strongly
recommended that you read fully and comprehend the small print on
your policy. This is because there are important exclusion clauses
and extras regarding the risk you are insuring against. This should
be made clear to you when you first apply so if not then you should
ask questions pertaining to the relevant policy.
Costs & Premiums Policy:
Takaful Gambia Limited has a policy of not attempting to compete in
the insurance market by price cutting. This is to ensure that the
firm has sufficient funds to meet any genuine claim.
Details of Takaful:
Fundamental elements of the Takaful Islamic insurance system in
order to ensure they are Sharia compliant are:
• General Takaful Fund: This is comprised of the individual premiums
made by the policy holder minus 20% to the company to cover
costs and fees plus, if any, investment profit made during the term.
• Sharing of Profits: Payments of under 20%, minus costs, minus
claims, plus investment income, less the obligatory Zakat (charity
payments) equals profit (20% Takaful Ltd.'s portion, 80% policy
holder's share).
• Participant: businesses or private people who contribute to
the Takaful insurance fund.
• Premium: Money paid by participants into the Fund.
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