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The Wakala fees and Modharaba percentage for the fiscal year 31/12/2018

Al Madina Insurance Company S.AO.G (Al Madina Takaful) would like to inform its customers the following:

The Wakala fees and Modharaba percentage for the fiscal year 31/12/2018

Wakala Fees:

AL Madina Insurance Company SAOG operating as the Wakeel of the Policyholders Fund proposes to charge Wakala Fee on the Net Revenue of the Company. The aggregate Wakala fee for the year 2018 shall be 20% of the Gross Written Contribution for all contributors’ in general takaful funds and Family Takaful funds.

 

Mudharaba percentage of the Company from the total investments of the contributors funds (policy holders):

Al Madina Insurance Company SAOG operating as the Mudarib of the Policyholders Fund will charge a Mudarib Fee of 55% of the net profits generated from the investment of the Policyholders Fund.

For more information, kindly visit the Company’s head office at Muscat Grand Mall, building (6), third floor. Or call us on the phone: +968 22033888. You may also visit us at our website: (www.almadinatakaful.com) to view frequently asked questions (FAQ) on Takaful.

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