1. Several persons may engage in cooperative Takaful (solidarity) insurance operations through their participation with cash contributions for the purpose of achieving Takaful and cooperation among a group of participants in facing specific risks, whereby each of them pays a monetary amount called a "contribution," which is deposited into a Takaful insurance fund to achieve its objectives in accordance with the applicable legislations. 2. Each member of the Takaful insurance system is considered insured on a Takaful basis. 3. An agreement may be made to invest these funds, and the investment proceeds shall be distributed to the members according to the agreement.
Interpretation and application must be checked against the official text and current version.