This is a shariah compliant Facility that allows you to pay for your takaful premiums in installments over a maximum of 10 Months.
As a fully shariah compliant Bank, we only finance takaful policies issued by fully shariah compliant takaful operators such as Takaful Insurance of Africa.
We finance Takaful policies with up to 12 months validity period e.g. Motor, Medical etc. As noted earlier, we only finance takaful policies issued by shariah compliant takaful operators.
The funds are paid directly to the takaful Operator. Your takaful Operator / agent is informed immediately this is done.
We accept payments through cheques (first two instalments will be via a current cheque and the rest postdated). You will be required to open a DIB Bank account.
No. Even if you do not have an account with us we will still finance your Takaful Premium financing application. However, as a condition, you will be required to open and operate a DIB Bank account.
We will call you immediately to replace the payment and also inform your Takaful Operator.
The profit rate applicable varies. It’s determined by the CBK rate.