Takaful Insurance of Africa Ltd-Somalia (TIASOM) is the first and active pioneering         dynamic insurance company in the Somalia region.

Takaful has introduced new and exciting ethical perspective to the market. TIASOM was launched in Hargeisa in February 2014 and Mogadishu in March 2015. It has been the pioneering insurer offering Shariah compliant products in Somalia. 

The rationale behind TIASOM lies in the need to provide risk management and financial security services that are founded on ethical principles and values.

Takaful Concept & Principles:

• The Takaful concept of insurance is based on the principles of togetherness, cooperation and mutual solidarity. Unlike conventional insurance, Takaful is based and operated on the tenets of sharia and avoids prohibited activities involving Riba (Interest), Maisir (Gambling) and Gharar (uncertainty).
• The operational framework can be simply explained as a system where each member contributes a given premium to a general Takaful fund managed by the Takaful Operator (TIA). Through the concept of Tabarru’ (donation), the members allow TIA to pay any losses suffered by the participants contributing to the Any surplus left from the contribution after payment of claims and other expenses is either used to grow the reserves or distributed among the members.

This is referred to as “surplus profit”.

Values: The values of TIASOM transcend throughout the entire organization. These values are:

Core Values

• Excellence
• Customer Focus
• Integrity
• Innovation
• Teamwork
• Equity

Approach to business: TIASOM shall operate and manage its activities in accordance with the principles of Shariah while adhering to all statutory regulations. TIASOM is fully committed to ensuring Transparency, Integrity and Accountability in all its dealings. As such, all operational matters, investment dealings, management and marketing of products will be overseen by the Shariah Advisory Board (SAB) to ensure that good governance and obligation to all participants are met.

We offer a wide range of products to cater for individuals, private corporate companies, small and medium enterprises, non-governmental organizations/UN bodies and governmental institutions