The First Somali Takaful and Re-Takaful (Also known as FISO Insurance) is the result of efforts that have lasted for more than eighteen (18) months before it was officially opened on 29th December 2014. The company’s headquarter is located at Djibouti Street, Shangani District in Mogadishu. The second main Office of the company was opened at Airport Street, Lanta-Hawada in Bosaso, Puntland on 19th February 2016. The firm is licensed and incorporated as of April 2014, as a fully Sharia’ compliant Takaful insurance, established by a group of Somali Businessmen.


The goals & objectives of the new First Somalia Takaful and Re-Takaful organisation will be:

  • To run & operate a Sharia compliant Takaful Insurance that services the needs for a Halal operation.
  • Financially guard against unpredictable life occurrences. Protect and educate contributors/policyholders and the general public.
  • Apply appropriate actions and improvement mechanisms that deter malpractices as we promote a positive public image of the Takaful/insurance; and promote understanding of Takaful contracts.
  • To contribute to the development of the economy in Somalia. We aim to do this via mobilizing the people who need the confidence that insurance provides in order to invest in all forms of society.


To contribute to the development of a vibrant society and help secure a sound future for Somalia, by enabling safety and security through the global insurance and financial services business. First Somalia Takaful and Re-Takaful will provide competitive insurance / Takaful products for business & consumers whilst remaining compliant with Somalia & Sharia laws.

  • What do we do?

First Somali Takaful and Re-Takaful provides insurance products and services that are Sharia compliant. It is our daily objective to promote awareness of these services to businesses and civilians.


The aim of the company is to meet the high demands for Takaful products in Somalia and its neighbours by offering reliable Takaful services that provide outstanding cover and protection to our valued clients against the widest possible risks.


  • Whom do we serve?

We serve the general public and local as well as international businesses that operate within Somalia & the surrounding areas.


  • How do we serve them?

We serve them via our various avenues of access to our services. Clients can visit our offices. We have an online presence through social media and our own website which can be found easily on search websites.

Our company site lists our products & services but also provides multiple forms of ways to contact us whether that is via email or telephone.


Our vision is to set the standard of excellence among insurance providers by being innovative, being integrity driven, providing the right support and service for our customers, exceeding their expectations.

We believe that leadership in our industry comes from providing insurance products and services of a quality and value that are superior to those of our competitors. Our intent is to compete fairly, with transparency & integrity so that we could be the most trusted, reliable & effective insurance provider in the country.

We wish to contribute to the economic development of Somalia by providing quality insurance services that provide confidence, peace of mind and investment opportunities to society. This shall in turn lead to an upturn in investments made in Somalia and its surrounding areas.


First Somalia Takaful and Re-Takaful is a limited liability Insurance Company registered under the Ministry of Commerce. It must continue to operate a legal business entity that operates under guidelines with transparency & in coordination with its ethical values.

  • Strive each day to act with integrity; seek and embrace diversity; listen, educate, and learn, provide solutions, generate positive energy and support our community.
  • To educate, promote understanding, and enhance consumer awareness of Takaful services and its purposes.
  • To be accountable and transparent in FISO’s dealings with its stakeholders.
  • To demonstrate efficiency in the discharge of various functions.
  • To expect integrity and dignity from FISO administration and its staff.

Takaful/Islamic Insurance

Takaful, or Islamic insurance is a cooperative scheme, where in which the participants pay a premium in the form of donation or Tabarru in a common pool in return for the ability to cover that pool upon a valid claim.

The word Takaful originates from the Arabic word Kafalah, which means “guaranteeing each other” or “joint-guarantee.”


The rules that govern Islamic insurance;

  1. The absence of interest-based (RIBA) transactions;
  2. The avoidance of economic activities involving speculation (GHARAR) and gambling (MAISER);
  3. The discouragement of the production of goods and services which contradict the value pattern of Islam (HARAM).