Takaful Insurance Gambia Limited on Thursday held its annual Quranic recitation, profit sharing and Zakat, for the year 2011, at its head office at 71 Dobson Street, Banjul.

Momodou Musa Joof, managing director of Takaful Insurance Gambia Ltd, in his welcoming remarks, said that as a participant to Takaful,genuine claims are more promptly, compared to conventional insurance. He added that when a participant does not suffer any loses, his or her contribution serves as an investment into their operations and the participant will be paid their share of any profit.

He added that the shareholder always expects a reward from Allah for investing their funds to promote financing of Islamicactivities, which mostly is less profitable to them but more blessed by Allah. “Takaful is the fairest, most ethical system of doing insurance and shariah compliment,” he said.

Joof thanked the shareholders through Mrs Amie Bensouda, the first chairperson of TGL who became the first shareholder and head of Equity Market. He also thanked the Imams, staff and all those present at the gathering. He also thanked Allah for enabling them to consistently pay out profits and zakat annually since the inception, as well as to fulfill their corporate social responsibilities,among others.

Speaking earlier, Talib Ahmed Bensouda, marketing manager of TGL,welcomed all and sundry to the occasion. He said the event is done on the basis of caring and sharing, noting that it is ordained by the Islamic faith and duty. “It is an event that lays a vision that ones gain does not have to come to the expenses of others,” he said.

Bensouda pointed out that the profit is being shared amongst over 4000 participants who would regain their profit at the head office whenever they come for it. He highlighted the following as the beneficiaries of the event such as outstanding school prize, outstanding agent prize, outstanding leadership prize, prize of legendary leadership in recognition of her hard work and achievements which was awarded to Amie Bensouda.

The Zakat and Profit was also distributed among schools like Kembujeh Arabic school, Sanchaba Sulay Jobe Lower Basic School and individuals. Companies such as Nawec, SSHFC, Elton Oil and others received their profit prizes with SSHFC earning more than D78, 000.