Takaful International Company, the leading Islamic insurance provider in the Kingdom of Bahrain, has witnessed significant interest from both individuals and corporate clients in redeeming their surplus, following the company’s recent announcement of surplus distributions for the Motor and Property Takaful portfolios for the 2024 underwriting year.

Takaful International is the first takaful company in Bahrain to distribute the surplus to policyholders — a pioneering move that reflects the company's deep commitment to Islamic Takaful principles and reinforces customer trust and transparency in its operations.

The company confirmed that the initiative has seen a strong response from participants, who promptly inquired about and redeemed their surplus online via the company’s website and the “Smart Takaful” application — a clear indication of customer trust and appreciation for this groundbreaking step.

As part of its efforts to enhance transparency and foster direct communication, the company also visited several of its corporate clients across the Kingdom to hand over their entitled surpluses. These visits were met with great appreciation, as recipients expressed their gratitude to Takaful International for this unprecedented initiative and its genuine commitment to embodying the concept of “participation.”

This initiative is part of a broader campaign launched by the company under the slogan: "Powered by Sharing", reflecting Takaful International’s ongoing dedication to fairness, cooperation, and transparency in its dealings with policyholders.

It is worth noting that the surplus distribution process is carried out under the supervision of the company’s Shari’a Supervisory Board and with the guidance of an independent actuarial expert, ensuring that all procedures comply fully with Islamic Shari’a principles.

Participants have several options for redeeming their surplus, including:

· Bank transfer (upon submission of a valid IBAN certificate)

· A discount on the next contribution upon policy renewal

· Donation to charitable causes through the Royal Humanitarian Foundation The surplus redemption service is available via the website (www.gigtakaful.bh) and the “Smart Takaful” app, using either the ID or commercial registration number along with the policy or vehicle number.

Participants may redeem their surplus within five years from the announcement date, or during the three-month period prior to the policy’s expiry.