Bank Saderat Iran Kenya offers a range of Takaful insurance services, providing Sharia-compliant financial protection tailored to various client needs. Takaful, derived from the Arabic word for “guaranteeing each other,” is a cooperative system where members contribute to a pooled fund to support one another in times of need. This model aligns with Islamic principles, emphasizing mutual assistance, shared responsibility, and ethical investment.
Features and Benefits
Sharia Compliance
Adheres to Islamic laws prohibiting interest (riba) and excessive uncertainty (gharar), ensuring ethical financial dealings.
Mutual Cooperation
Encourages solidarity among participants, fostering a sense of community support.
Ethical Investments
Funds are invested in socially responsible ventures, avoiding industries contrary to Islamic values.
Profit Sharing
Surpluses from the Takaful fund may be distributed among participants, promoting shared benefits.
Bank Saderat Iran Kenya's Takaful Offerings:
Motor Takaful
Provides coverage for vehicles against risks such as accidents, theft, and third-party liabilities.
Benefits
- Comprehensive protection for personal or commercial vehicles.
- Access to a network of approved repair centers.
- Third-party liability coverage.
Requirements
- Completed application form.
- Valid driver's license.
- Vehicle inspection report.
Covered Card Takaful
Offers protection for credit card holders against unforeseen events affecting their ability to repay outstanding balances.
Benefits
- Settlement of outstanding card balances in case of specified events.
- Financial relief for cardholders and their families.
Requirements
- Active credit card with Bank Saderat Iran Kenya.
- Enrollment in the Takaful plan.
Personal Finance Takaful
Secures personal financing by covering outstanding amounts in the event of unforeseen circumstances.
Benefits
- Ensures financing obligations are met during unexpected events.
- Provides peace of mind to the participant and their family.
Requirements
- Active personal finance facility with Bank Saderat Iran Kenya.
- Enrollment in the Takaful plan.
Takaful Protection Plan for School Fees
Ensures the continuity of a child’s education by covering school fees in case of the guardian’s unforeseen events.
Benefits
- Guarantees uninterrupted education for children.
- Financial security for families during challenging times.
Requirements
- Completed application form.
- Details of the child's educational institution.
Male Care Takaful Plan
Provides health coverage tailored to men’s specific health needs.
Benefits
- Coverage for specified male-related health conditions.
- Access to a network of healthcare providers.
Requirements
- Completed health declaration form.
- Medical examination (if required).
Female Care Takaful Plan
Offers health coverage addressing women’s specific health concerns.
Benefits
- Completed health declaration form.
- Medical examination (if required).
Requirements
- Active credit card with Bank Saderat Iran Kenya.
- Enrollment in the Takaful plan.
Personal Accident Takaful Plan
Provides compensation in the event of injuries, disability, or death caused by accidents.
Benefits
- Completed application form.
- Beneficiary details.
Requirements
- Completed application form.
- Valid driver's license.
- Vehicle inspection report.
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