Takaful Insurance Company Gambia Limited last Thursday disbursed 2 million dalasis, being part of their two-year profit, to their customers. The company also provided a scholarship fund for 22 students from various schools across the country, at a ceremony held at 71 Dobson Street in Banjul.

Takaful's operation or system of insurance is said to be in accordance with the Shariah requirements and that customers are entitled to earn profits under the company's Profit Sharing Agreement, which forms part of the Takaful Insurance Contract. Speaking  at the ceremony, Momodou M. Joof, managing director and chief executive officer of Takaful Gambia Ltd, said that the establishment of an Islamic company in The Gambia could not have come at a better time than now, when the world is facing global economic and financial crisis. "The repercussions of the crisis have not spared anyone and one of its salient and most critical effect is an increase in poverty in many developing countries which are now under the threat of seeing their recent achievements evaporate in their attempt to attain the Millennium Development Goals," he remarked.

Joof also indicated that the Takaful company is no longer confined to Muslims alone, adding that many non-Muslim investors and businesspeople have noticed lot of advantages in transacting with the company. The concept of Takaful he said, is to promote and advocate fairness in business. He finally thanked His Excellency Sheikh Professor Alhaji Dr. Yahya A.J.J. Jammeh, for the creating the enabling business environment and noted that The Gambia has every reason to be proud of taking the lead in establishing an insurance company operating under Shariah principles.

The government, he indicated, was very proactive in providing the regulatory framework for Takaful to operate in The Gambia. Amie Bensouda, a legal practitioner and the chairperson of the board of directors of Takaful Gambia Ltd, expressed delight and satisfaction at the achievements registered by Takaful after two years of operation. "We have been able to meet our obligation towards our main partners and the participants to the Takaful Insurance Fund, and it has been an extremely challenging and exciting time," she stated.  Ousman Tasbasi, a customers, expressed delight at the achievements registered by Takaful and thanked the staff of the company for their hard work.