As Doğa Sigorta, we are always with you with our Takaful products
within the interest-free financial system. Built upon our basic principle of solidarity, the funds collected from the insured
are evaluated in the interest-free funds, i.e. takaful funds.

What is Takaful 

·         Definition

·         Operation

·         Differences

Company Applications 

·         Applied Model

·         Branches

·         Wakalah Fees

·         Statistical Data

·         Investment Areas

·         Re Takaful Companies We Work With

·         Fund Management

·         Balance rebate

Advisory Committee 

·         Advisory Board

·         Ratification Certificates



 Basically, takaful is a system based on solidarity which creates social welfare by eliminating the unjust suffering of the individuals whose were victimized because of the other funds created.

History; Participation insurance is an Islamic insurance methods whose roots go back to the solidarity practices that formed in the early days of Islam. Takaful means “solidarity”, it is derived from “kafalat” (security, guarantee) which is an Arabic word. It is applied all around the Islamic world with various interpretations in different countries. 

In its shortest form, takaful can be defined as “Islamic insurance” or “Interest-free insurance”. “Takaful” is used as the equivalent of these concepts in Türkiye. This type of insurance, which is also known as the Takaful system, is called cooperation or mutual insurance. Cooperation insurance is one where separate individuals come together to compensate for the damage one of them suffers. 

The basic principles of Takaful are as follows: 

·         The existence of the cooperation element/objective. 

·         Evaluation of the premiums collected from investors and the insured in interest-free market instruments. 

·         Acting selectively regarding the economic values which are immoral or which do not look legitimate with regards to the subjects insurance coverage is provided


Takaful is relies on the distribution of the risk among certain groups with a view to share responsibility.

The voluntariness of the participants forms the basis of the takaful system. Therefore, the donations collected are not “premiums” but “tabarru” (i.e. donation). The ownership of these donations collected from the participants rests completely with the participants, and the parts of these funds used in investments must be directed toward financial instrument which conform to Islamic procedures. Therefore, it can be said that Takaful is the form of conventional insurance which is stripped off its parts which do not conform to Islamic principles.

There are three Takaful products in general.

 General Takaful: This insurance addresses certain risks which companies and individuals are exposed to, such as fire insurance, employee insurance, real estate insurance etc. 

Family Takaful: This insurance aims at the long-term protection of individuals and companies. It is arranged for various things such as health plans, education, accident, marriage, pilgrimage and umrah, etc. Its maturity ranges from 10 years to 40 years.

Re-Takaful: This insurance is aimed at providing protection to Takaful companies against the risk of its participants’ demands to cover their losses at a very high rate.

 If one wishes to compare takaful to conventional insurance, it becomes evident that General Takaful is an alternative to elementary (non-life) insurance; Family Takaful is an alternative to life insurance; and Re-Takaful is an alternative to reinsurance.


Management models

In order to ensure that the risk fund performs its obligations to the participants and that the risk fund continues, the company managing the risk fund shall be obligated to ensure that each product offered in the takaful area is valued correctly in relation to each risk without the risk fund requiring any debt in any period.

The company may operate on the basis of wakalah (proxy), mudabara, wakalah/mudabara mix (hybrid) model, or another model to be approved by the advisory committee. It shall be expressly stated in the insurance contract which of the above-mentioned management models will be used.

Depending on to the application of the possible models, the share ratio in the mudabara model and the wakalah fee in the wakalah model must be determined before the conclusion of the insurance contract between the participants and the Company.

Information regarding the share ratio in the mudabara model and/or the wakalah fee in the wakalah wakalah model is announced at the Company’s website or in its information forms.

In any case, if the company operates on the basis of another model to be approved by the company’s advisory committee, the management fee the company will collect and the calculation method must be determined before the insurance contract, and they must be announced in the Company’s website or in its information forms. Except for the changes the company makes in favour of the participants, the fees and ratios pre-determined for the relevant year cannot be changed.


Liquidity facility

In the event the risk fund fails to fulfill its legal and administrative obligations and that the reinsurance or re-takaful obtained fails to suffice, the company may cover the deficit by way of liquidity. The amount transferred to the risk fund through liquidity may be covered from the positive balance accumulated in the fund in the future.

The amount to be retrieved by the company in return for the liquidity may be determined by performing an assessment with the tools and methods to be approved by the advisory committee. This issue shall be announced on the Company’s website.

The company which is forced to provide liquidity facility in 3 calendar years consecutively shall submit the rationale for doing so and the measures to be taken to remedy this situation to the Undersecretariat.

The measures specified for the company portfolios stated in Article 20  of the said law shall also be applied to the risk fund in takaful system.


Separation of the funds


The company shall manage the risk fund consisting of the contributions of the participants and the investors/members fund separately.

If the cooperation companies which will perform takaful offers insurance services to parties other than its members, they shall be obligated to manage the risk fund made up of the participants contributions and the accounts of the members of the cooperation separately.

The damages and reinsurance/re-takaful payments (including the agency commission fees and legal obligations), and all expenses and commissions related to insurance activities shall be paid from the risk fund by the company on behalf of the participants.

The Company shall announce the income and expense items on its website annually to ensure that the participant can follow the income and expenses of the risk fund and that the reliability of the system is secured.

In addition to the risk fund in the savings life-takaful, the company shall also manage the participant investment fund where the contribution premium payments of the participants aimed at savings, and the revenues of these which are obtained in line with takaful finance principles shall be monitored.


Balance rebate and its evaluation


At the end of every period, the company shall calculate the balance using the actuary and takaful finance principles which are generally accepted for the risk fund. The deficit and surplus found at the end of the said calculation shall be announced on the Company’s website.

Provided that the participants are informed prior to the contract or in insurance contracts, if the said balance generates surplus, it is possible to;

a) To use this amount to decrease the contribution premiums,

b) To set it aside as contingency fund for unforeseeable risks in the future,

c) To distribute it fully or partially among the participants without allowing the company to take a share,

ç) To evaluate it in another way to be approved by the advisory committee


The distribution of the balance fully or partially among the participants can be effected by one of the ways below provided that it is stated in the insurance contract and that the company actuary approves that the company has sufficient capital;

a) The balance may be distributed to all participants based on the contribution premiums they pay regardless of whether they recovered damages in the relevant period.

b) The balance may be distributed to the participants who have not recovered any damages in the relevant period.

c) The balance may be distributed to all participants who contribute positively to the fund regardless of whether they recovered damages in the relevant period.

ç) The balance may be distributed by a method to be approved by the advisory committee.


In the event the balance is evaluated with a method approved by the advisory committee, or the balance rebate is distributed with a procedure to be approved by the advisory committee, this situation shall be announced on the company’s website.

Balance rebate calculations and rebate calculation tables shall be published on the companies’ websites. In the event a rebate is calculated, the method by which it will be evaluated/distributed must be stated in the insurance contract and the company’s website.

In companies which operate in liability and life-takaful, matters such as the balance calculation, the balance distribution method, and the frequency of balance distribution shall be determined with the positive opinion of the advisory committee after obtaining the company actuary’s approval since the risks they assume are long-term.

The company shall determine how many years after the recording the balance rebate it will be distributed by considering the branch it operates in and the nature of the product, and by obtaining the positive view of the advisory committee after the approval of the company actuary.

The balance rebates not sought by the beneficiaries in a timely manner shall be subject to the “Regulation on Unclaimed Money by the Beneficiaries Within the Scope of Insurances Subject to Private Law Provisions”.

In the event the risk fund generates surplus and it is aside as contingency fund for unforeseeable risks in the future, this fund shall not be distributed to the shareholders/members as dividend under any circumstances, and it shall not be taken into consideration in the calculation of distributable profit.

Source: Official Gazette dated 20 September 2017 and No. 30186.


Applied Model

Our Company Adopted the Wakalah (Proxy) Takaful Model. Takaful applications can utilize different structures today. All of these structures must utilize contract forms which are shaped based on Islamic law. There are three Takaful structures that are widely used today. These are mudabara, wakalah (proxy) and the hybrid structure which is a mix of the previous two. In addition, there is also a foundation model. In addition, there is also a foundation model.

Mudabara Model

In this model, contribution (tabarru) is collected from the participants, which are then transferred to the Takaful fund. The amount remaining after the expenses (reinsurance expenses, operational expenses, claims payments, etc.) are deducted from this fund is directed towards investment instruments which conform to Islamic principles. A mudabara contract is made between the Participants and the Takaful Company. In other words, the profit/loss obtained from these funds are distributed based on the numbers whose ratio is pre-determined according to the contract made among the contributors within the framework of labour capital partnership agreement. In this model, a single contract covers the investment and insurance activities. This model is mostly used in Malaysia.

Wakalah (proxy) Model

Unlike the mudabara structure, a wakalah contract is signed between the Takaful company and the participants in a Takaful structure, and the Takaful company receives its fee in return for this wakalah fee. In the wakalah model, the operator company receives some of the savings as a fee before it starts to operate the pool. This is called the wakalah fee. The basic tenet of this model is that the company acts as the proxy of the policy holder. The Company performs all the transactions concerning the pool in return for a pre-determined fee. Since a mudabara contract is not signed, the profit and loss resulting from the funds invested does not affect the Takaful company. The wakalah model is widely used in Takaful companies. Although the wakalah contract is widely used in insurance activities in Türkiye, they are rarely used in contracts concerning the investment of the funds collected.

Hybrid Model

Hybrid Takaful structure is a Takaful model created by using these two different Takaful structures together. In this model, there is both a wakalahand a mudabara contract. As the proxy for the owners of the funds, the company manages the funds in return for a proxy fees, and receives its share from the resulting profit/loss in accordance with the contract made. Profit/loss sharing may vary based on the contracts made. This is the most frequently used model in the Takaful sector. It is widely used in Middle Eastern countries. In this structure, insurance activities are performed based with wakalah contracts whereas profit and loss to be obtained from investments are distributed based on mudabara contracts.



Fund Surplus

No fund surplus rebate will be made from funds in the first 5 years due to contingency.

Our company will not make fund surplus rebate in auto and liability branches and in compulsory insurances


Wakalah Fees

·         2018 Wakalah Fee Ratio; 
Maximum 20%

·         2017 Wakalah Fee Ratio; 
Maximum 15%

·         2016 Wakalah Fee Ratio; 
Maximum 15%

·         2015 Wakalah Fee Ratio; 
Maximum 20%


Re Takaful Companies We Work With

Our Takaful company's Re-takaful structure: Since its establishment and within the framework of the Takaful principles, our Company transfers the risks it bears to internationally recognized companies which are reliable and work according to takaful principles. 

In selecting its retakaful companies, our company prefers that they take A rating from international rating agencies. This sharing which is made based on quota share includes all branches. The Reinsurance companies we work within the scope of Takaful system: 

·         GIC Re

·         ARAB Re

·         CCR

·         SCR Morocco

·         Tunis Re

·         Africa Re

Fund Management


Wakalah Fee

Takaful Fund

Investment According to Islamic Rules

Return on Investment

Profit or Loss (Surplus-Deficit)

Claims Payment




Operator Fund (Financier)

Interest-free Loan (Qard Al-Hassan)


Advisory Committee

Prof. Dr. Hayreddin Karaman
Prof. Dr. Vecdi Akyüz
Assoc. Dr. İshak Emin Aktepe


Ratification Certificates

Doğa Takaful

Trust is in our nature



The following activities conform to Islamic Rules: Doğa Takaful establishes a takaful system; It collects funds from the participant in the takaful pool it creates as donation; It also collects funds from its participant as partnership contribution; It charges expenses during entry to the takaful system; It pays commission from the insurance pool to intermediaries and pays for other expenses related to insurance from the fund; It operates the amount collected in the takaful fund through the power it receives from the participants, and receives a fee which may be definite, relative and/or a premium; It invests the amount collected in the insurance fund in transactions which conform to the Islamic law; Doğa Takaful or Re-Takaful Company gives Qard Al-Hassan Loan to the fund to cover the deficit in the Takaful fund, and they collect this amount when the fund is able to pay; It collects a difference in the amount of the inflation that realizes during the period it was a debtor when collecting the Qard Al-Hassan; It resorts to retakaful to share the risk; The participants receive compensation when the risk realizes; they receive profit share when the fund generates surplus, or they obtain discount right for the subsequent policy; A certain part of the sum which is collected in the insurance fund as a result of the contract signed between Doğa Takaful and the Participants, a certain part of the profit to be generated by the fund, and a certain part of the difference between the income and the expenses are donated to foundations, associations and educational organizations which perform public service; scholarships are given, and donations are made with this money, .


Prof. Dr. Hayreddin Karaman

Prof. Dr. Vecdi Akyüz

Assoc. Dr. İshak Emin Aktepe


Applied Model


Statistical Data

Investment Areas

Re Takaful Companies We Work With

Fund Management

Advisory Board


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