The Wakala fees and Modharaba percentage for the fiscal year ending 31/12/2019

« Back

The Wakala fees and Modharaba percentage for the fiscal year ending 31/12/2019

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

Wakala Fees

AL Madina Insurance Company SAOG operating as the Wakeel of the Policyholders Fund. The aggregate Wakala fee for the year 2019 shall be 20% of the Gross Written Contributions in respect of 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 investment income generated from the investments 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.

Customer Says..