The Islamic Insurance Company is the first Takaful Insurance Company in Jordan. It was established in 1996 with a capital of JD2 million and its capital has now reached JD15 million. It was established on the basis of Cooperative Insurance, which was approved by Fiqh Councils as an alternative to Commercial Insurance.
The Islamic Insurance Company is an Islamic Financial Institution that manages its funds in accordance with the principles of Islamic Shari’ah and on the basis of Wakalah (Agency) with a known fee and Mudharabah.
The Islamic Insurance Company has achieved continued successes and attained JD 3.280 million gross profit in the year 2020, and received many awards since its inception. Also, in 2020 it received a distinguished rating of ‘A’ (Single A) from the Islamic International Rating Agency for the seventh consecutive time.
The Islamic Insurance Company has participated in establishing many Islamic Insurance Companies across the Middle East in Yemen, Lebanon, Saudi Arabia, and Tunis.