Salaam Halal insurance uses Takaful principles, whereby the risk is spread between all policy holders. In contrast, conventional insurance policies shift the risk from the policy holder to the insurance firm.

People taking out a policy with Salaam Halal pay contributions into a pool, with that money then put into sharia-compliant investments -- avoiding companies that are involved in alcohol or pay interest.


The central pool of funds is used to pay any claims that arise, and at the end of the year, if the pool is over-funded, the excess will be distributed back to policyholders through a discount on their next premium.

The policies are aimed at Britain's 1.6 million Muslims, who constitute 2.7 percent of the total population, according to the 2001 census.

Companies all around the world are trying to reshape their misions and vision considering the Islamic rules and principles.

Agencies