Takaful Rail

Shariah-compliant cooperative insurance endpoints for mutual protection and risk sharing.

Overview

The Takaful rail provides a complete Islamic insurance infrastructure built on the principles of tabarru (voluntary contribution), ta’awun (mutual assistance), and shared responsibility. Unlike conventional insurance, takaful eliminates gharar (uncertainty), maysir (gambling), and riba (interest) by structuring the relationship as a cooperative pool where participants contribute to a common fund used to compensate members who suffer losses.

Key capabilities:

Policy creation and lifecycle management across general and family takaful
Claims submission, assessment, and settlement workflows
Underwriting and risk assessment with Shariah-compliant criteria
Retakaful (Islamic reinsurance) placement and treaty management
Fund management with segregated participant and shareholder funds
Surplus distribution to participants based on contribution and claims history
Actuarial valuation and reserve calculations
Commission and fee management under Wakalah, Mudarabah, and Hybrid models
Full compliance tracking against AAOIFI SS-26 and SS-41 standards

The takaful rail supports three operating models: Wakalah (agency), Mudarabah (profit-sharing), and Hybrid (Wakalah for underwriting + Mudarabah for investment).

Sub-Rails

1. General Takaful (`general`)

Covers non-life insurance products: motor, property, marine, fire, engineering, liability, and miscellaneous.

Create General Takaful Policy

POST /v1/rails/takaful/general/policies

const policy = await iof.takaful.general.create({
  product_type: "motor",
  participant_id: "part_abc123",
  coverage: {
    type: "comprehensive",
    sum_covered: 75000,
    currency: "USD",
    deductible: 500,
  },
  contribution: {
    amount: 1800,
    frequency: "annual",
    tabarru_portion: 0.65,
    wakalah_fee_portion: 0.35,
  },
  effective_date: "2026-03-01",
  expiry_date: "2027-02-28",
  risk_details: {
    vehicle_make: "Toyota",
    vehicle_model: "Camry",
    vehicle_year: 2025,
    usage: "private",
  },
});

Response:

{
  "id": "tak_gen_xyz",
  "type": "takaful",
  "sub_type": "general",
  "product_type": "motor",
  "status": "DRAFT",
  "participant_id": "part_abc123",
  "coverage": {
    "type": "comprehensive",
    "sum_covered": 75000,
    "currency": "USD",
    "deductible": 500
  },
  "contribution": {
    "total": 1800,
    "tabarru": 1170,
    "wakalah_fee": 630,
    "frequency": "annual"
  },
  "effective_date": "2026-03-01",
  "expiry_date": "2027-02-28",
  "created_at": "2026-02-14T10:00:00Z"
}

List General Takaful Policies

GET /v1/rails/takaful/general/policies

Query parameters: status, product_type, participant_id, effective_after, effective_before, page, limit.

Get General Takaful Policy

GET /v1/rails/takaful/general/policies/:id

Update General Takaful Policy

PUT /v1/rails/takaful/general/policies/:id

Cancel General Takaful Policy

DELETE /v1/rails/takaful/general/policies/:id

Cancellation triggers pro-rata refund calculation of unearned tabarru contributions.

2. Family Takaful (`family`)

Covers life and long-term savings products: term, whole-life, education, retirement, mortgage, and investment-linked.

Create Family Takaful Policy

POST /v1/rails/takaful/family/policies

const policy = await iof.takaful.family.create({
  product_type: "term_protection",
  participant_id: "part_def456",
  coverage: {
    sum_covered: 500000,
    currency: "USD",
    term_years: 20,
    beneficiaries: [
      { name: "Fatimah Ahmad", relationship: "spouse", share_pct: 60 },
      { name: "Yusuf Ahmad", relationship: "child", share_pct: 40 },
    ],
  },
  contribution: {
    amount: 350,
    frequency: "monthly",
    tabarru_portion: 0.4,
    savings_portion: 0.3,
    wakalah_fee_portion: 0.3,
  },
  effective_date: "2026-04-01",
});

Response:

{
  "id": "tak_fam_xyz",
  "type": "takaful",
  "sub_type": "family",
  "product_type": "term_protection",
  "status": "DRAFT",
  "participant_id": "part_def456",
  "coverage": {
    "sum_covered": 500000,
    "currency": "USD",
    "term_years": 20,
    "beneficiaries": [
      { "name": "Fatimah Ahmad", "relationship": "spouse", "share_pct": 60 },
      { "name": "Yusuf Ahmad", "relationship": "child", "share_pct": 40 }
    ]
  },
  "contribution": {
    "total_monthly": 350,
    "tabarru": 140,
    "savings": 105,
    "wakalah_fee": 105,
    "frequency": "monthly"
  },
  "effective_date": "2026-04-01",
  "maturity_date": "2046-03-31",
  "created_at": "2026-02-14T10:00:00Z"
}

Additional Family Takaful Endpoints

GET    /v1/rails/takaful/family/policies
GET    /v1/rails/takaful/family/policies/:id
PUT    /v1/rails/takaful/family/policies/:id
DELETE /v1/rails/takaful/family/policies/:id
POST   /v1/rails/takaful/family/policies/:id/surrender
GET    /v1/rails/takaful/family/policies/:id/savings-balance

3. Claims (`claims`)

Full claims lifecycle from first notice of loss through assessment, approval, and settlement.

Submit a Claim

POST /v1/rails/takaful/claims

const claim = await iof.takaful.claims.submit({
  policy_id: "tak_gen_xyz",
  incident_date: "2026-02-10",
  notification_date: "2026-02-11",
  claim_type: "motor_accident",
  description:
    "Rear collision at intersection causing bumper and taillight damage",
  estimated_amount: 4500,
  currency: "USD",
  documents: [
    { type: "police_report", file_id: "file_001" },
    { type: "repair_estimate", file_id: "file_002" },
    { type: "photos", file_id: "file_003" },
  ],
});

Response:

{
  "id": "clm_abc123",
  "policy_id": "tak_gen_xyz",
  "status": "SUBMITTED",
  "claim_type": "motor_accident",
  "incident_date": "2026-02-10",
  "estimated_amount": 4500,
  "currency": "USD",
  "assessor_assigned": null,
  "created_at": "2026-02-14T10:30:00Z"
}

Additional Claims Endpoints

GET    /v1/rails/takaful/claims
GET    /v1/rails/takaful/claims/:id
PUT    /v1/rails/takaful/claims/:id
POST   /v1/rails/takaful/claims/:id/assess
POST   /v1/rails/takaful/claims/:id/approve
POST   /v1/rails/takaful/claims/:id/reject
POST   /v1/rails/takaful/claims/:id/settle
POST   /v1/rails/takaful/claims/:id/appeal
GET    /v1/rails/takaful/claims/:id/history

4. Underwriting (`underwriting`)

Risk assessment and policy pricing with Shariah-compliant rating factors.

Submit Underwriting Request

POST /v1/rails/takaful/underwriting/requests

const uwRequest = await iof.takaful.underwriting.submit({
  policy_type: "general",
  product_type: "property",
  applicant_id: "part_abc123",
  risk_profile: {
    property_type: "commercial",
    construction: "concrete",
    location: "low_risk_zone",
    fire_protection: "sprinkler_system",
    sum_to_cover: 2000000,
    currency: "USD",
  },
  medical_declaration: null,
});

Additional Underwriting Endpoints

GET    /v1/rails/takaful/underwriting/requests
GET    /v1/rails/takaful/underwriting/requests/:id
POST   /v1/rails/takaful/underwriting/requests/:id/evaluate
POST   /v1/rails/takaful/underwriting/requests/:id/approve
POST   /v1/rails/takaful/underwriting/requests/:id/decline
GET    /v1/rails/takaful/underwriting/rating-tables

5. Retakaful (`retakaful`)

Islamic reinsurance for ceding risk from takaful operators to retakaful operators, compliant with AAOIFI SS-41.

Place Retakaful Treaty

POST /v1/rails/takaful/retakaful/treaties

const treaty = await iof.takaful.retakaful.create({
  treaty_type: "quota_share",
  retakaful_operator_id: "rtak_op_001",
  cession_percentage: 30,
  coverage_class: "property",
  effective_date: "2026-01-01",
  expiry_date: "2026-12-31",
  limit: 10000000,
  currency: "USD",
  commission_rate: 0.25,
  profit_sharing_rate: 0.15,
});

Additional Retakaful Endpoints

GET    /v1/rails/takaful/retakaful/treaties
GET    /v1/rails/takaful/retakaful/treaties/:id
PUT    /v1/rails/takaful/retakaful/treaties/:id
DELETE /v1/rails/takaful/retakaful/treaties/:id
POST   /v1/rails/takaful/retakaful/treaties/:id/bordereaux
GET    /v1/rails/takaful/retakaful/treaties/:id/settlements
POST   /v1/rails/takaful/retakaful/facultative

Treaty types: quota_share, surplus, excess_of_loss, facultative.

6. Fund Management (`fund-management`)

Segregated fund accounting for participant risk funds (PRF), participant investment funds (PIF), and shareholder funds.

Get Fund Summary

GET /v1/rails/takaful/fund-management/summary

const funds = await iof.takaful.funds.summary({
  as_of_date: "2026-02-14",
  fund_type: "participant_risk_fund",
});

Response:

{
  "fund_type": "participant_risk_fund",
  "as_of_date": "2026-02-14",
  "currency": "USD",
  "balance": {
    "opening": 12500000,
    "tabarru_contributions": 850000,
    "claims_paid": -420000,
    "retakaful_ceded": -255000,
    "investment_income": 187500,
    "reserves": -1200000,
    "closing": 11662500
  },
  "reserves": {
    "outstanding_claims": 780000,
    "ibnr": 320000,
    "unearned_contribution": 100000
  }
}

Additional Fund Management Endpoints

GET    /v1/rails/takaful/fund-management/funds
GET    /v1/rails/takaful/fund-management/funds/:id
POST   /v1/rails/takaful/fund-management/funds/:id/allocate
GET    /v1/rails/takaful/fund-management/funds/:id/transactions
GET    /v1/rails/takaful/fund-management/investment-portfolio
POST   /v1/rails/takaful/fund-management/qard-hasan

The qard-hasan endpoint handles interest-free loans from the shareholder fund to the participant fund when the participant fund has a deficit.

7. Surplus Distribution (`surplus`)

Calculate and distribute underwriting surplus to participants after deducting claims, retakaful costs, and reserves.

Calculate Surplus

POST /v1/rails/takaful/surplus/calculate

const surplus = await iof.takaful.surplus.calculate({
  period: "2025",
  fund_type: "participant_risk_fund",
  distribution_model: "contribution_based",
});

Response:

{
  "id": "surp_2025_001",
  "period": "2025",
  "status": "CALCULATED",
  "total_contributions": 5200000,
  "total_claims": 2800000,
  "retakaful_cost": 780000,
  "reserves_increase": 320000,
  "management_expenses": 150000,
  "gross_surplus": 1150000,
  "operator_share": 460000,
  "participants_share": 690000,
  "distribution_model": "contribution_based",
  "participant_count": 4200,
  "currency": "USD"
}

Additional Surplus Endpoints

GET    /v1/rails/takaful/surplus
GET    /v1/rails/takaful/surplus/:id
POST   /v1/rails/takaful/surplus/:id/approve
POST   /v1/rails/takaful/surplus/:id/distribute
GET    /v1/rails/takaful/surplus/:id/allocations
GET    /v1/rails/takaful/surplus/history

8. Compliance (`compliance`)

Shariah compliance monitoring, Shariah board review workflows, and regulatory reporting.

Run Compliance Check

POST /v1/rails/takaful/compliance/check

const result = await iof.takaful.compliance.check({
  policy_id: "tak_gen_xyz",
  check_types: [
    "tabarru_ratio",
    "investment_screening",
    "surplus_distribution",
    "qard_hasan_terms",
  ],
});

Additional Compliance Endpoints

GET    /v1/rails/takaful/compliance/checks
GET    /v1/rails/takaful/compliance/checks/:id
POST   /v1/rails/takaful/compliance/shariah-review
GET    /v1/rails/takaful/compliance/shariah-reviews
POST   /v1/rails/takaful/compliance/regulatory-report
GET    /v1/rails/takaful/compliance/audit-trail

9. Actuarial (`actuarial`)

Actuarial valuations, reserve calculations, and experience studies.

Run Actuarial Valuation

POST /v1/rails/takaful/actuarial/valuations

const valuation = await iof.takaful.actuarial.valuate({
  valuation_date: "2026-02-14",
  fund_type: "participant_risk_fund",
  methodology: "chain_ladder",
  confidence_level: 0.75,
});

Additional Actuarial Endpoints

GET    /v1/rails/takaful/actuarial/valuations
GET    /v1/rails/takaful/actuarial/valuations/:id
POST   /v1/rails/takaful/actuarial/reserve-calculation
GET    /v1/rails/takaful/actuarial/loss-triangles
GET    /v1/rails/takaful/actuarial/experience-studies
POST   /v1/rails/takaful/actuarial/pricing-model

10. Commissions (`commissions`)

Agent and intermediary commission management under Wakalah fee structures.

Create Commission Schedule

POST /v1/rails/takaful/commissions/schedules

const schedule = await iof.takaful.commissions.createSchedule({
  agent_id: "agent_789",
  product_type: "motor",
  commission_type: "wakalah_fee_share",
  rate: 0.15,
  clawback_period_months: 12,
  effective_date: "2026-01-01",
});

Additional Commission Endpoints

GET    /v1/rails/takaful/commissions/schedules
GET    /v1/rails/takaful/commissions/schedules/:id
PUT    /v1/rails/takaful/commissions/schedules/:id
DELETE /v1/rails/takaful/commissions/schedules/:id
GET    /v1/rails/takaful/commissions/payouts
POST   /v1/rails/takaful/commissions/payouts/calculate
POST   /v1/rails/takaful/commissions/payouts/process

Takaful Operating Models

Wakalah Model (Agency)

The takaful operator acts as an agent (wakeel) managing the fund on behalf of participants. The operator receives a fixed Wakalah fee upfront from each contribution regardless of fund performance.

Component	Description
Operator role	Agent (Wakeel)
Operator income	Fixed Wakalah fee (percentage of contribution)
Investment management	Operator may receive a separate investment Wakalah fee
Surplus	100% belongs to participants
Deficit (Qard Hasan)	Operator provides interest-free loan to cover shortfall

The takaful operator acts as an entrepreneur (mudarib) investing the pool funds. Profits from investment are shared between operator and participants according to a pre-agreed ratio.

Component	Description
Operator role	Entrepreneur (Mudarib)
Operator income	Share of investment profits (pre-agreed ratio)
Underwriting surplus	Belongs to participants
Investment profit split	e.g., 60% participants / 40% operator
Deficit (Qard Hasan)	Operator provides interest-free loan to cover shortfall

Hybrid Model (Wakalah + Mudarabah)

Combines both models: Wakalah fee for underwriting management and Mudarabah profit-sharing for investment activities. This is the most widely adopted model globally.

Component	Description
Underwriting management	Wakalah fee (fixed percentage of contribution)
Investment management	Mudarabah profit-sharing on investment returns
Surplus	Shared between operator and participants (pre-agreed)
Deficit (Qard Hasan)	Operator provides interest-free loan to cover shortfall

Set the operating model when creating a policy:

const policy = await iof.takaful.general.create({
  // ...policy details
  operating_model: "hybrid", // "wakalah" | "mudarabah" | "hybrid"
  wakalah_fee_rate: 0.35,
  mudarabah_profit_share: { operator: 40, participants: 60 },
});

Claims Lifecycle

The claims lifecycle follows a structured flow from submission through settlement:

SUBMITTED -> ACKNOWLEDGED -> UNDER_ASSESSMENT -> ASSESSED
    |                              |                 |
    v                              v                 v
 WITHDRAWN               ADDITIONAL_INFO_REQUIRED  APPROVED -> SETTLED -> CLOSED
                                                     |
                                                     v
                                                  REJECTED -> APPEAL -> RE_ASSESSED

Status	Description
`SUBMITTED`	Claim submitted by participant
`ACKNOWLEDGED`	Claim received and registered, reference number assigned
`UNDER_ASSESSMENT`	Assessor assigned and investigation in progress
`ADDITIONAL_INFO_REQUIRED`	Additional documents or information requested from participant
`ASSESSED`	Assessment complete, recommended amount determined
`APPROVED`	Claim approved by claims committee
`REJECTED`	Claim rejected with documented reasons
`APPEAL`	Participant has appealed a rejected claim
`RE_ASSESSED`	Claim under re-assessment following appeal
`SETTLED`	Payment disbursed to participant from the tabarru fund
`WITHDRAWN`	Claim withdrawn by participant
`CLOSED`	Claim fully resolved and file closed

Policy Status

Status	Description
`DRAFT`	Policy created, pending underwriting
`PENDING_UNDERWRITING`	Submitted for underwriting assessment
`UNDERWRITTEN`	Underwriting complete, pricing confirmed
`PENDING_SHARIAH_REVIEW`	Awaiting Shariah board approval
`SHARIAH_APPROVED`	Approved by Shariah board
`ACTIVE`	Policy in force, coverage active
`LAPSED`	Contributions not paid, policy lapsed
`SURRENDERED`	Family takaful policy surrendered by participant
`MATURED`	Family takaful policy reached maturity date
`EXPIRED`	General takaful policy term ended
`CANCELLED`	Policy cancelled, pro-rata refund issued
`CLAIM_IN_PROGRESS`	Active claim being processed under this policy

Shariah Compliance Rules

Takaful operations must adhere to the following Shariah principles:

Tabarru (Voluntary Contribution)

Participants donate a portion of their contribution to the risk pool (tabarru fund)
The tabarru is an irrevocable gift (hibah) to the common pool
Tabarru funds are used exclusively for paying claims and related expenses
The tabarru portion must be clearly separated from savings and fee components
Minimum tabarru ratios are enforced per product type

Surplus Distribution

Underwriting surplus belongs to participants, not the operator
Surplus may only be distributed after deducting claims, retakaful costs, reserves, and management expenses
Distribution must follow the pre-agreed method (contribution-based, claims-based, or equal)
Participants who made claims may receive reduced or no surplus depending on the policy terms
The Shariah board must approve the surplus distribution methodology annually

Investment Restrictions

All fund investments must be Shariah-compliant (no riba, gharar, or haram industries)
Investment screening must follow recognized indices (e.g., DJIM, FTSE Shariah, S&P Shariah)
Fixed-income alternatives must use sukuk or commodity murabaha structures
No short-selling, conventional derivatives, or interest-bearing instruments

Qard Hasan (Benevolent Loan)

When the participant fund has a deficit, the operator provides a qard hasan (interest-free loan)
The loan is repaid from future surpluses only; no interest is charged
If the fund cannot repay, the operator bears the loss
Qard hasan terms must be documented and approved by the Shariah board

Segregation of Funds

Participant risk fund (PRF) must be completely segregated from shareholder funds
Participant investment fund (PIF) must be separately maintained for family takaful
Fund commingling is a critical Shariah violation
Each fund must have its own ledger accounts and financial statements

Webhooks and Events

Event	Description
`takaful.policy.created`	New policy created in DRAFT status
`takaful.policy.underwritten`	Underwriting completed and pricing confirmed
`takaful.policy.shariah_approved`	Shariah board approved the policy
`takaful.policy.activated`	Policy is now active and coverage has commenced
`takaful.policy.renewed`	Policy renewed for a new term
`takaful.policy.lapsed`	Policy lapsed due to non-payment of contributions
`takaful.policy.cancelled`	Policy cancelled, refund issued
`takaful.policy.matured`	Family takaful policy reached maturity
`takaful.contribution.received`	Contribution payment received and allocated
`takaful.contribution.overdue`	Contribution payment is overdue
`takaful.claim.submitted`	New claim submitted by participant
`takaful.claim.acknowledged`	Claim acknowledged and reference assigned
`takaful.claim.assessed`	Assessment completed with recommended amount
`takaful.claim.approved`	Claim approved for settlement
`takaful.claim.rejected`	Claim rejected with reasons
`takaful.claim.settled`	Claim payment disbursed
`takaful.claim.appealed`	Rejected claim appealed by participant
`takaful.surplus.calculated`	Surplus calculated for a period
`takaful.surplus.approved`	Surplus distribution approved by Shariah board
`takaful.surplus.distributed`	Surplus payments disbursed to participants
`takaful.fund.qard_hasan_issued`	Qard hasan issued to cover fund deficit
`takaful.fund.qard_hasan_repaid`	Qard hasan repaid from surplus
`takaful.retakaful.treaty_placed`	Retakaful treaty placed with retakaful operator
`takaful.retakaful.bordereaux_submitted`	Bordereaux submitted to retakaful operator
`takaful.compliance.check_completed`	Compliance check completed
`takaful.compliance.violation_detected`	Shariah compliance violation detected
`takaful.actuarial.valuation_completed`	Actuarial valuation completed
`takaful.commission.payout_processed`	Agent commission payout processed

Webhook payload structure:

{
  "id": "evt_tak_001",
  "type": "takaful.claim.approved",
  "timestamp": "2026-02-14T14:30:00Z",
  "data": {
    "claim_id": "clm_abc123",
    "policy_id": "tak_gen_xyz",
    "approved_amount": 4200,
    "currency": "USD",
    "assessor_id": "usr_assessor_01"
  },
  "tenant_id": "tnt_001",
  "rail": "takaful"
}

Integration Points

Ledger Integration

All takaful financial transactions are recorded in the TigerBeetle ledger with proper fund segregation:

Ledger Account Type	Purpose
`takaful:prf`	Participant Risk Fund (tabarru pool)
`takaful:pif`	Participant Investment Fund (family savings)
`takaful:shareholder`	Shareholder Fund (operator capital)
`takaful:wakalah_fee`	Wakalah fee receivable
`takaful:claims_payable`	Outstanding claims liability
`takaful:retakaful_ceded`	Amounts ceded to retakaful operators
`takaful:qard_hasan`	Qard hasan loan balance
`takaful:surplus_distributable`	Surplus available for distribution

Compliance Integration

// Automatic compliance check on policy creation
const policy = await iof.takaful.general.create({
  // ...policy details
  compliance: {
    auto_check: true,
    required_checks: ["tabarru_ratio", "investment_screening"],
  },
});

The compliance rail automatically validates:

Tabarru ratio meets minimum thresholds per product type
Investment portfolio passes Shariah screening
Surplus distribution methodology is Shariah board-approved
Fund segregation is maintained

Zakat Integration

Takaful funds are subject to zakat obligations:

GET /v1/rails/takaful/fund-management/funds/:id/zakat-liability

The zakat rail calculates zakat on:

Participant investment fund balances (family takaful)
Shareholder fund balances
Net zakatable assets per AAOIFI FAS 9 methodology

Reporting Integration

GET /v1/rails/takaful/reports/financial-statements
GET /v1/rails/takaful/reports/claims-experience
GET /v1/rails/takaful/reports/fund-performance
GET /v1/rails/takaful/reports/surplus-history
GET /v1/rails/takaful/reports/regulatory

Reports are generated through the reporting rail and include:

Fund financial statements (PRF, PIF, Shareholder)
Claims ratio and experience reports
Surplus distribution history
Solvency margin calculations
Regulatory submissions (per jurisdiction)

AAOIFI Standards

SS-26: Islamic Insurance (Takaful)

AAOIFI Shariah Standard No. 26 governs takaful operations:

Requirement	Implementation
Tabarru commitment	Enforced via `tabarru_portion` field on contributions
Separation of funds	Segregated ledger accounts per fund type
Surplus ownership	Participants own surplus; operator share requires Shariah approval
Qard hasan for deficit	Automated qard hasan issuance when PRF deficit detected
Investment compliance	Shariah screening on all fund investments
Wakalah fee disclosure	Fee percentage disclosed at policy inception
Shariah board oversight	Review workflows built into compliance sub-rail

SS-41: Islamic Reinsurance (Retakaful)

AAOIFI Shariah Standard No. 41 governs retakaful arrangements:

Requirement	Implementation
Retakaful operator must be Shariah-compliant	Operator registry with compliance verification
Treaty terms must follow takaful principles	Treaty model validation on creation
Cession must not transfer all risk	Maximum cession percentage enforced
Profit-sharing on retakaful surplus	Automated surplus sharing per treaty terms
Conventional reinsurance as last resort	Allowed only when no retakaful capacity available, with Shariah board approval

FAS 19: Contributions in Islamic Insurance

Financial Accounting Standard No. 19 requirements:

Contributions recognized as revenue when due
Unearned contribution reserve calculated on a time-apportioned basis
Deficiency reserve established when expected claims exceed unearned contributions

FAS 20: Deferred Acquisition Costs

Financial Accounting Standard No. 20 requirements:

Acquisition costs (commissions, underwriting costs) may be deferred
Deferred costs amortized over the policy period
Recoverability tested at each reporting date

Admin Portal Mapping

The admin portal exposes takaful management through the following sections:

Admin Section	Takaful Feature	Route
Policies	View and manage all takaful policies	`/admin/takaful/policies`
Policy Detail	Individual policy lifecycle management	`/admin/takaful/policies/:id`
Claims	Claims queue, assessment, approval workflows	`/admin/takaful/claims`
Claim Detail	Individual claim lifecycle with document review	`/admin/takaful/claims/:id`
Underwriting	Underwriting queue and risk assessment tools	`/admin/takaful/underwriting`
Fund Management	Fund balances, allocations, and transactions	`/admin/takaful/funds`
Surplus Distribution	Calculate, approve, and distribute surplus	`/admin/takaful/surplus`
Retakaful	Treaty management and bordereaux submission	`/admin/takaful/retakaful`
Compliance Dashboard	Shariah compliance monitoring and violations	`/admin/takaful/compliance`
Actuarial	Valuations, reserves, and loss triangles	`/admin/takaful/actuarial`
Commissions	Agent commission schedules and payouts	`/admin/takaful/commissions`
Reports	Financial, regulatory, and performance reports	`/admin/takaful/reports`
Product Configuration	Takaful product definitions and rating tables	`/admin/takaful/products`

TypeScript SDK Reference

The takaful rail is available through the IOF SDK under the iof.takaful namespace:

import { IOFClient } from "@iof/sdk";

const iof = new IOFClient({
  api_key: process.env.IOF_API_KEY,
  tenant_id: "tnt_001",
});

// General takaful
const generalPolicy = await iof.takaful.general.create({ ... });
const generalPolicies = await iof.takaful.general.list({ status: "ACTIVE" });

// Family takaful
const familyPolicy = await iof.takaful.family.create({ ... });
const savingsBalance = await iof.takaful.family.getSavingsBalance("tak_fam_xyz");

// Claims
const claim = await iof.takaful.claims.submit({ ... });
const claims = await iof.takaful.claims.list({ policy_id: "tak_gen_xyz" });
await iof.takaful.claims.approve("clm_abc123", { approved_amount: 4200 });

// Underwriting
const uwRequest = await iof.takaful.underwriting.submit({ ... });
await iof.takaful.underwriting.approve("uw_req_001", { rating_class: "standard" });

// Retakaful
const treaty = await iof.takaful.retakaful.create({ ... });
await iof.takaful.retakaful.submitBordereaux("treaty_001", { period: "2026-Q1" });

// Fund management
const fundSummary = await iof.takaful.funds.summary({ fund_type: "participant_risk_fund" });
await iof.takaful.funds.issueQardHasan({ amount: 500000, currency: "USD" });

// Surplus
const surplus = await iof.takaful.surplus.calculate({ period: "2025" });
await iof.takaful.surplus.distribute("surp_2025_001");

// Compliance
const check = await iof.takaful.compliance.check({ policy_id: "tak_gen_xyz" });
const reviews = await iof.takaful.compliance.listShariahReviews();

// Actuarial
const valuation = await iof.takaful.actuarial.valuate({ valuation_date: "2026-02-14" });

// Commissions
const schedule = await iof.takaful.commissions.createSchedule({ ... });
await iof.takaful.commissions.processPayouts({ period: "2026-01" });

Next Steps

Compliance Rail - Platform-wide compliance management
Ledger Rail - Financial transaction ledger
Zakat Rail - Zakat calculation and distribution
Reporting Rail - Financial and regulatory reports
Underwriting Rail - General underwriting framework
Risk Rail - Risk assessment and management

Takaful Rail

Takaful Rail

Overview

Sub-Rails

1. General Takaful (general)

Create General Takaful Policy

List General Takaful Policies

Get General Takaful Policy

Update General Takaful Policy

Cancel General Takaful Policy

2. Family Takaful (family)

Create Family Takaful Policy

Additional Family Takaful Endpoints

3. Claims (claims)

Submit a Claim

Additional Claims Endpoints

4. Underwriting (underwriting)

Submit Underwriting Request

Additional Underwriting Endpoints

5. Retakaful (retakaful)

Place Retakaful Treaty

Additional Retakaful Endpoints

6. Fund Management (fund-management)

Get Fund Summary

Additional Fund Management Endpoints

7. Surplus Distribution (surplus)

Calculate Surplus

Additional Surplus Endpoints

8. Compliance (compliance)

Run Compliance Check

Additional Compliance Endpoints

9. Actuarial (actuarial)

Run Actuarial Valuation

Additional Actuarial Endpoints

10. Commissions (commissions)

Create Commission Schedule

Additional Commission Endpoints

Takaful Operating Models

Wakalah Model (Agency)

Mudarabah Model (Profit-Sharing)

Hybrid Model (Wakalah + Mudarabah)

Claims Lifecycle

Policy Status

Shariah Compliance Rules

Tabarru (Voluntary Contribution)

Surplus Distribution

Investment Restrictions

Qard Hasan (Benevolent Loan)

Segregation of Funds

Webhooks and Events

Integration Points

Ledger Integration

Compliance Integration

Zakat Integration

Reporting Integration

AAOIFI Standards

SS-26: Islamic Insurance (Takaful)

SS-41: Islamic Reinsurance (Retakaful)

FAS 19: Contributions in Islamic Insurance

FAS 20: Deferred Acquisition Costs

Admin Portal Mapping

TypeScript SDK Reference

Next Steps

1. General Takaful (`general`)

2. Family Takaful (`family`)

3. Claims (`claims`)

4. Underwriting (`underwriting`)

5. Retakaful (`retakaful`)

6. Fund Management (`fund-management`)

7. Surplus Distribution (`surplus`)

8. Compliance (`compliance`)

9. Actuarial (`actuarial`)

10. Commissions (`commissions`)