Managed by a team of qualified and experienced professionals and supervised by a distinguished Sharia’ Board, Our Company is incorporated under the laws and regulations of Somalia. We are focused on delivering Sharia’ compliant and products insurance across Somalia. We in First Takaful and Retakaful(Islamic Insurance) aim to meet the high demand for Takaful products in Somalia by offering new Takaful/Retakaful solutions that provide outstanding cover and protection to our valued clients against the widest possible risks.



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

To establish a legal business entity, the First Somalia Takaful and Re-Takaful is a limited liability Insurance Company registered under the Ministry of Commerce.

Protect and educate contributors/policyholders and the general public.

The strategic objectives identified under this goal were to maintain appropriate actions and improvement mechanisms that deter malpractices; promote a positive public image of the Takaful/insurance; and promote understanding of Takaful contracts.

To achieve the set of objectives, a number of strategies were identified and activities to operationalize the strategies generated. Most of the envisioned activities were implemented during the plan period. However, there is still need to enhance consumer awareness of Takaful services and its purposes. 


To design and open a viable & sustainable Insurance Company in Somalia, named the new first Somalia Takaful and Re-Takaful, that will provide competitive insurance / Takaful products for business & consumers throughout the Somalia market that will also be compliant with Somalia & Shari’ah laws. 


To be the most trusted, reliable, effective selected insurance provider in the emerging markets.


·        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.”


There are four 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).