Hima Takaful
Insurance built on mutual help.
Participants pool their contributions in a fund that belongs to them. Hima runs it for a fee known in advance, and any surplus comes back to them.
- 6products available as takaful
- 1participants’ fund, kept apart from Hima’s accounts
- 0interest on the advance if there is a deficit
The principle
Follow one year of the fund.
Five steps, from your contribution to the surplus. Step through them or play the animation.
You contribute
Each participant pays a contribution worked out like a premium: same risk, same amount. It goes into the participants’ fund.
One example year worked out by the demonstration’s takaful module: illustrative figures.
Conventional or takaful
Two ways to organise the same protection.
| What changes | Conventional insurance | Takaful |
|---|---|---|
| The contract | You buy cover from the insurer. | You join a mutual fund shared between participants. |
| What you pay | A premium. | A contribution to the fund (tabarru’). |
| Who carries the risk | The insurer. | The participants’ fund. |
| How the company is paid | The margin on premiums and investments. | A wakala fee set in advance and a share of investment returns (mudaraba). |
| Investments | As the insurer chooses. | In line with Islamic finance principles, overseen by a compliance board. |
| A surplus at year end | Stays with the insurer. | Is shared among participants, after a reserve. |
| A deficit | The insurer absorbs it. | Hima advances the difference interest-free (qard hassan), repaid from later surpluses. |
| The price | Worked out on the risk. | Worked out on the same risk: same cover, same amount. |
The products
Takaful products, with their fees on show.
For each product, the share Hima takes to run the fund and the date the compliance board approved it.
Car- Wakala fee
- 25%
- Hima’s share of returns
- 30%
- From
- 5 336DZD
- Approval
- 12 March 2025
Home & natural catastrophe- Wakala fee
- 25%
- Hima’s share of returns
- 30%
- From
- 3 145DZD
- Approval
- 12 March 2025
Travel- Wakala fee
- 25%
- Hima’s share of returns
- 30%
- From
- 1 220DZD
- Approval
- 20 May 2025
Health- Wakala fee
- 20%
- Hima’s share of returns
- 30%
- From
- 13 582DZD
- Approval
- 8 July 2025
Life & protection- Wakala fee
- 20%
- Hima’s share of returns
- 30%
- From
- 3 660DZD
- Approval
- 8 July 2025
- Group health
- Wakala fee
- 20%
- Hima’s share of returns
- 30%
- From
- 111 211DZD
- Approval
- 18 November 2025
Rates, approvals and references are made up for this demonstration.
Compliance board
Every product approved before it is sold.
An independent compliance board reviews each contract, its fees and its investments before it goes on sale, and gives an opinion every year.
- CarResolution reference CS-HM-2025-03 — Date 12 March 2025
- Home & natural catastropheResolution reference CS-HM-2025-04 — Date 12 March 2025
- TravelResolution reference CS-HM-2025-05 — Date 20 May 2025
- HealthResolution reference CS-HM-2025-07 — Date 8 July 2025
- Life & protectionResolution reference CS-HM-2025-08 — Date 8 July 2025
- Group healthResolution reference CS-HM-2025-11 — Date 18 November 2025
The board and its references are fictional and refer to no real board.
Work out your share
If the year ends in surplus, what comes back to you?
Your share depends on your contribution and on your claims in the year. Try it.
Your share of the surplus
2 235DZDWith no claim, you receive a full share, in proportion to your contribution.
Example: a fund of 4830 participants and a distributable surplus of DZD 36 381 450, after the reserve.
Nothing is guaranteed: a year can also end in deficit, at no extra cost to you.
Questions
Takaful, plainly.
Does takaful cost more?
No: for the same cover, the contribution is worked out like a conventional premium. What changes is where the money goes and who the surplus belongs to.
What is wakala?
The fee Hima takes to run the fund. It is set in advance for each product and shown on every takaful quote.
Is the surplus guaranteed?
No. It depends on the year’s claims. A year in deficit costs you nothing extra: Hima advances the difference interest-free.
Who checks compliance?
An independent compliance board approves each product and its investments, and publishes a yearly opinion. In this demonstration, that board is fictional.
Can I switch from conventional to takaful?
Yes, when your contract renews, or straight away for a new one: every quote offers both.
Is my cover any different?
No. The plans, the cover, the excesses and the claims service are the same; only the financial arrangement changes.
Hima Takaful
Your quote, as takaful.
Pick a product: the quote shows the contribution and the wakala fee before you sign.
Pick a product