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Jaiz TAKAFUL Insurance Limited distributes surplus profit to beneficiaries at its annual profit-sharing programme in the Federal Capital Territory, Abuja. The sum of one hundred and fifty-two million Naira was shared with beneficiaries on Thursday, September 28, 2023, at Shehu Musa Yar’Adua Center, Abuja. 

Hajiya Zainab Abdurrahman, the chair of the company’s Board of Directors, in a welcome address that the distribution is not a financial transaction but a symbol of commitment to the participants and values that guide the operation of JaizTakaful and fulfilment of promises to their clients.“This surplus distribution of N152 million is a reflection of the collective efforts of our participants and the dedication of our team at Jaiz Takaful Insurance Ltd, a reaffirmation of our promise to stand by you in your times of need and to share the benefits of our collective success.”

While delivering his speech, the chairman of the occasion, Alhaji Zikrullah Hassan, the Chairman of the National Hajj Commission of Nigeria (NAHCON), commended the effort of the company and highlighted its significance in Nigeria’s financial sector for it has been assisting Nigeria and Nigerians towards ensuring economic prosperity. He also urged the beneficiaries of the distribution to use their portion judiciously “The introduction of the Takaful Insurance in 2014 and licensed in 2016 is a blessing to the Muslims and indeed non-Muslims. It is a kind of Islamic finance that guarantees the protection of the lives and properties of subscribers, which is a fundamental part of the objectives of Shariah. It provides job opportunities and increases investments. Therefore, let me use this opportunity to encourage Nigerians, irrespective of their Faith, to subscribe to the products of Jaiz Takaful. These products are in line with Shari’a, it is free of usury, uncertainty and gambling; they guarantee economic stability and provide financial inclusion for subscribers and returning investment. I urge the beneficiaries of the distribution to use their share judiciously”.

The guest speaker, Professor Isa Ali Pantami, former Minister of Communications and Digital Economy, elucidates that Takaful is sacrosanct in human endeavours. He referenced the verses from the Holy Qur’an that emphasized why human beings, Muslims and non-Muslims, should prioritize savings as a means of survival and financial constancy. He said, Q 46 vs 13 and 14, verses of Al-Ahqaf, tell us clearly that there are some people that Allah (SWT) will reward with paradise because of their determination and consistency. An example of such activities is what the Jaiz group is doing, which we now enjoy.

He lectured Muslims to understand the position that Allah has given to wealth, resources and money as contained in the glorious Qur’an, “if you look very well in the Qur’an, you will discover that in more than fifty-five places Allah has warned us whether to enter hellfire or paradise depending on how you managed your money, how you engaged in financial activities, this will determine your destination in the hereafter.” 

Professor Isa Ali Pantami admonished that human beings should spend their money legitimately and earn it legitimately so as not to cause regrets for them in the hereafter. He encourages Nigerians to patronize the products of JAIZ Takaful because there are numerous benefits for both Muslims and non-Muslims. 

Mallam Attairu Maccido, the MD/CEO of One 17 Capital Ltd., elaborated on the significance of Takaful in human endeavors and explained the distinction between Takaful and conventional insurance companies. He said that in the conventional practice of insurance companies, there were exploitations, risks, and uncertainty that were not present in Takaful. In other words, Takaful is an Islamic insurance that does not involve interests or usury (Riba) or gambling, but financial inclusion promotes economic stability and is free of uncertainties. It is a platform that accelerates cooperation, assistance, and support between people to contribute to alleviating poverty in their communities.

The Managing Director and CEO of JAIZ Takaful Limited, Malam Ibrahim Shehu, summarized the essence of the company thus: “At this juncture, permit me to say Takaful remains the most viable and ethical insurance that offers enormous benefits to all members of society regardless of race, religion, ethnicity, or social status. Our proven, unique value propositions are enticements to our participants. In the course of our business, we have redefined the basis of insurance by delivering excellent services to both our brokers and participants and expanding the market share.

Some of the dignitaries in attendance were Alh. Umar Muttalib, the founding father of JAIZ conglomerate; His Royal Highness (DR) Muhammad Auwal Ibrahim, CON; the Sarkin Zazzau Suleja, Alhaji Zikrullah Hassan, the chairman of NAHCON; Professor Isa Ali Pantami, immediate past Minister of Communication and Digital Economy; Sheikh Abdullahi Bala-lau; Jama’atul IzalatulBidi’ah-Ikamatus Sunnah (JIBWIS); the representative of the Chairman of Jaiz Bank Plc (Alhaji Muhammad Mustapha Bintube), Malam Hassan, the acting Managing Director of JAIZ Bank plc; the National Commissioner of Insurance, Mr. Olorundare Thomas; and many other dignitaries.

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