Business Model - Wakalah

Under Wakalah model, Archipelago act as an agent or ‘wakeel’ to represent their client known as participants. The ‘wakeel’ is the Takaful Operator in this concept.

Shareholders of the Takaful Operator provide the capital to establish the Wakalah Takaful as a donation under the basis of ‘Tabarru’.

The Takaful operator assumes the business risk in developing and operating Takaful business on behalf of the participants. For this, Takaful Operator charging a Wakalah fee for managing the underwriting operations and investing activities, based on the level of contribution, investment returns and generated surplus. The contributions by the participants allocated to the Participants’ Fund based on tabarruʿ or voluntary donation.

Any liabilities for risks underwritten are borne by the fund and any surplus arising from there belongs exclusively to the participants.


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