Salaam Halal insurance is the UK’s first dedicated Islamic insurance provider set up to provide Islamic insurance based on the Shariah* principle of Takaful**. Now muslims can have great value home insurance and car insurance, without compromising the principles of their faith.
Julie Owens, head of home insurance at moneysupermarket.com, said: “It is encouraging to see this level of variety in what is an increasingly competitive insurance market.”
“Salaam Halal insurance launched mid last year with the first shariah-compliant car insurance product and has now added home insurance to its mantel, giving both Muslims and non-Muslims the opportunity to compare prices of Halal insurance with conventional home insurance for the first time.
“Prior to Salaam Halal insurance’s launch in July 2008, British Muslims didn’t have the option of buying insurance products aligned with their faith. Salaam Halal insurance is also likely to appeal to the non-Muslim community who are interested in competitively priced products of an ethical or co-operative nature. Halal insurance, also known as Takaful, prohibits investment in non-ethical industries, e.g. alcohol and tobacco, and is based on mutual cooperation.
“Their specialist insurance offering often sits competitively in our car insurance listing and we would expect their home insurance to offer customers similar great value.”
Note :
Shariah : This is the term for the rules that govern the Muslim way of life.
Takaful : Takaful is described as the Halal alternative for conventional insurance which is fully compliant with Shariah. It abides by all the rules and regulations of Islamic law.
