Takaful differs from conventional insurance in both its principles and operations. It is a model built on mutual risk-sharing, protection and shared responsibility among participants.
As a growing sector within QFC, takaful is supported by a robust regulatory environment, designed to uphold Shariah compliance while enabling innovation and growth.
Takaful funds are managed by operators within QFC under structures such as Wakalah (agency-based) or Mudarabah (profit-sharing), ensuring transparency in fund collection and profit distribution.
WHAT WE OFFER
Cooperative risk-sharing insurance models
Family and general Takaful products
Re-Takaful (Islamic reinsurance) structures
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GET STARTED
Setting up a business at QFC is a transparent, efficient and seamless process. Requirements vary depending on the nature of your activities.
Connect with the QFC team to discuss your plans, proposed activities and eligibility to set up at QFC.
Work with our team to identify your activities and select the appropriate legal structure for your entity.
Confirm whether your activities are regulated or non-regulated
Select the appropriate legal structure within QFC framework
Align your business model with QFC's financial solutions offerings
Provide a business plan covering your strategy, target market, ownership structure and three-year financial projections.
Please note: Applications for regulated financial services must include a Regulated Business Plan (RBP) detailing governance, risk management, compliance and capital adequacy.
Your application will be reviewed by QFC team. If your activities are regulated, the QFC Regulatory Authority (QFCRA) will conduct a detailed assessment of your business model, governance arrangements, capital position and risk framework.
You may be asked to provide clarifications or additional documentation.
Once approved, your entity will be incorporated and licensed. You will receive your official registration documents and can proceed with post-licensing steps, such as:
Commercial Registration Extract
License Certificate
License Letter
Incorporation Certificate
After registration, QFC will facilitate the process of obtaining the computer card and setting up the bank account.
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