Methaq Takaful Insurance Review - Halal Finance Products
Reviewed quarterly and updated for major content changes.
Methaq Takaful Insurance offers halal financial products and services designed to align with Islamic principles. These options provide alternatives to conventional interest-based financial products, using structures like Murabaha, Ijara, and Musharakah.
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HalalWallet 2026 Review
Methaq Takaful Insurance - At a Glance
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Our Verdict
Methaq is the cautionary tale of UAE takaful and, since 2025, its freshest restart. The facts are stark: solvency deteriorated to the point that the CBUAE dissolved the entire board in March 2023 and ran the company through an interim supervisory committee, the strongest intervention available short of licence action, and that administration lasted more than two years. The equally important facts: policies stayed in force, claims machinery kept operating, the regulator chose rehabilitation over revocation (unlike YAS Takaful, whose licence was suspended in August 2025), and the exit came with a recapitalizing rights issue and a fully reconstituted board in April 2025. The named three-scholar Sharia committee gives the religious architecture a face, and the motor-led product set is simple and functional. What a buyer cannot yet see is post-restructuring financial performance, and the fake-policy fraud problem the company itself warns about adds a practical hazard unique in this cluster. Priced keenly, an annual motor policy here is a bounded bet on a supervised recovery; anything long-dated or high-value should wait for audited evidence that the new Methaq holds.
Pros & Cons
What We Like
- Named, published three-scholar Sharia committee
- CBUAE-supervised rehabilitation completed: new board April 2025, rights issue March 2025
- Claims and policies continued uninterrupted through the administration
- Simple motor-led product set with roadside assistance and online claims
- Regulator chose rescue over revocation, evidence of viable underlying operations
What Could Be Better
- Board dissolved by the regulator in 2023 over solvency failure, the severest governance event among active operators
- Post-recapitalization financial track record is only now being written
- Active fraud problem: fake websites and policies sold in Methaq's name
- Motor concentration in the UAE's most price-competitive, thin-margin line
Who Is Methaq Takaful Insurance Best For?
Price-driven motor buyers comfortable with recovery risk
A recapitalizing operator rebuilding market share can quote aggressively on 12-month policies where duration risk is naturally bounded
Observers of UAE takaful governance
The reference case for how the CBUAE handles a failing takaful operator: board dissolution, interim administration, supervised recapitalization
Detailed Analysis
Methaq Takaful Insurance Company PJSC was registered in Abu Dhabi on 24 March 2008 (registration CN-1142419) and listed on ADX in May 2008. Its stated business is non-life takaful with the bulk in motor, alongside medical, home and commercial lines spanning fire, marine, engineering and general accident, run from Abu Dhabi with Dubai branches. Historical exchange profiles show Burgan Takaful Insurance Co as the largest shareholder at 36.43%, with capital of AED 150M (150 million AED 1 shares) before the 2025 rights issue.
The regulatory intervention is documented in the company's own ADX-filed 2025 sustainability report: in line with CBUAE directive CBUAE/FCMCP/2023/1675 issued on 31 March 2023, the board of directors was dissolved and governance responsibilities transferred to an Interim Supervisory Committee appointed by the Central Bank, a structure that remained in place until 24 April 2025 to ensure regulatory oversight, operational continuity and sound governance. The company had faced a minimum capital requirement solvency deficit. On 24 April 2025 a new board was formally appointed under UAE Companies Law and ADX listing requirements, with all mandated board committees reconstituted.
Recapitalization ran in parallel: in March 2025 Methaq invited shareholders to subscribe to new shares in a capital increase, publishing subscription forms and FAQs through its investor relations page, having years earlier attempted a 2021 rights issue for the same solvency purposes. The company remains on the CBUAE register (takaful licence 082, June 2026) and actively markets motor, medical and home takaful with a 600 565 65 hotline, online motor claims and roadside assistance dispatch. It has repeatedly warned the public about fraudulent websites and fake insurance policies circulating in its name, telling buyers to verify through official channels, and issued a 2025 clarifying disclosure about which agencies are approved.
Shariah governance persisted through the administration: the Internal Sharia Supervisory Committee page names Dr. Azzeddine Benzeghiba (chairman), Dr. Mohamed Abdelhakim Zoeir and Dr. Abdulnaser Ahmed Almannaee, scholars who also serve on the committees of Takaful Emarat and Salama respectively, keeping Methaq inside the UAE's small, interlocking circle of takaful scholarship. The forward question is entirely financial: whether the new capital, new board and CBUAE-supervised reset produce sustained solvency in a motor market whose pricing cycles crushed the previous iteration. The company's continued licensing and the regulator's two-year investment in its rehabilitation argue for viability; the absence of published post-reset results argues for patience.
How It Works
Methaq operates the standard CBUAE wakala takaful model: participant contributions form the takaful fund, the operator deducts a wakala fee (regulatorily capped at 35% and disclosed in the contract) for underwriting and administration, claims draw on the fund, and surplus distribution requires actuarial and Sharia committee approval, while deficits trigger shareholder Qard Hasan support. Methaq's recent history illustrates the model's regulatory backstop layer: when shareholder support and pool performance both failed, the CBUAE stepped into the governance itself rather than letting the participant fund fail, and policyholder obligations were maintained throughout the administration. Participants today should assume surplus distributions are remote until accumulated losses clear, and should read the contract's wakala fee clause, which is not published on the website.
Verify you are dealing with the real Methaq
Fake websites sell counterfeit Methaq policies; use methaq.ae or 600 565 65 only, and check any agent against the company's approved-agency disclosure.
Quote motor, medical or home cover
Quote-based pricing through the hotline and offices; the book is motor-led with medical and home alongside.
Contributions enter the takaful fund under new governance
The April 2025 board and reconstituted committees oversee the pool; the wakala fee is disclosed in the contract.
Claims via the online portal or hotline
Online motor claim filing and roadside assistance dispatch through 600 565 65 continued operating throughout the administration.
Re-underwrite the relationship annually
Renewals are the checkpoint: look for audited post-recapitalization results before extending beyond annual commitments.
Shariah Compliance Review
Oversight Level
Review details on provider's website
Internal Sharia Supervisory Committee: Dr. Azzeddine Benzeghiba (chairman), Dr. Mohamed Abdelhakim Zoeir (member), Dr. Abdulnaser Ahmed Almannaee (member). Source: methaq.ae, verified 2026-08-05.
CBUAE directive CBUAE/FCMCP/2023/1675 (31 March 2023): board dissolved, Interim Supervisory Committee appointed; new board seated 24 April 2025 with committees reconstituted (2025 sustainability report via ADX).
CBUAE takaful licence 082 (register June 2026); rights-issue capital increase opened March 2025.
Public fraud warnings: buy only through methaq.ae, the 600 565 65 hotline or disclosed approved agencies.
Shariah compliance should always be verified directly with Methaq Takaful Insurance. HalalWallet reports publicly available oversight information but does not issue fatwas or certify compliance.
How It Compares
Methaq's comparison set is really the sector's risk spectrum. Against ADNTC, its Abu Dhabi neighbour, the contrast is total: a decade of A- ratings versus a regulator-run rehabilitation. Against Takaful Emarat, the other recovery story, Takaful Emarat is two audited years further into its turnaround with published growth numbers Methaq cannot yet show. Against YAS Takaful, Methaq is the survivor: both failed compliance tests, but Methaq was rehabilitated while YAS was suspended from writing business. For a motor buyer the practical question is price versus the modest annual-policy risk of a supervised, recapitalized operator; for anything longer, the sector offers safer homes.
vs. Abu Dhabi National Takaful
The same home market with the opposite risk profile: ten years of A- ratings and no regulatory events.
Scale, published limits and catastrophe-proven claims capacity for similar motor-led needs.
vs. Takaful Emarat
The recovery playbook two years ahead: recapitalized, restored to DFM first category, with published growth.
Bottom Line
Methaq survived the strongest regulatory intervention in recent UAE takaful history: board dissolved in March 2023, two years under a CBUAE-appointed committee, then a March 2025 rights issue and an April 2025 board reset. Policyholders were protected throughout, which is the system working as designed. Treat it today as a recovering, supervised operator suitable for keenly priced annual motor cover, verify you are buying from the real company given the fake-policy scams, and let audited post-reset results earn anything more.
Products from Methaq Takaful Insurance
Why It's Halal
Methaq Takaful Insurance Company PJSC is a dedicated general takaful operator registered in Abu Dhabi on 24 March 2008 and listed on ADX since May 2008, licensed by the CBUAE (insurance register June 2026, licence 082); its book is predominantly motor takaful with medical, home and commercial lines alongside. Shariah governance is a named Internal Sharia Supervisory Committee: Dr. Azzeddine Benzeghiba (chairman), Dr. Mohamed Abdelhakim Zoeir and Dr. Abdulnaser Ahmed Almannaee (methaq.ae Sharia Supervisory Committee page, crawled 2026-08-05). The honest governance history is serious and must be weighed: on 31 March 2023 the CBUAE issued directive CBUAE/FCMCP/2023/1675 dissolving Methaq's board of directors and transferring governance to an Interim Supervisory Committee appointed by the regulator, a structure that remained until 24 April 2025 when a new board was formally appointed; the company had faced a minimum capital requirement solvency deficit. A rights-issue capital increase was opened to shareholders in March 2025 to strengthen the capital base (Methaq 2025 sustainability report via ADX and methaq.ae investor relations, verified 2026-08-05). Methaq remains licensed and actively writing business, but buyers should treat the recapitalization and the two-year regulatory administration as material context.
Methaq Takaful Insurance
Motor Takaful (Comprehensive + Third Party)
Motor takaful is the bulk of Methaq's underwriting book (the company's own rights-issue prospectus states the majority of its non-life business is motor). The retail proposition centres on accessible cover with roadside assistance dispatched via the 600 565 65 hotline, online motor claims filing, and a network of approved agencies whose status the company clarified in a 2025 ADX disclosure after fraudulent websites and fake policies were circulated in its name; buy only through methaq.ae or verified agents. Medical and home takaful lines are also offered, alongside corporate covers spanning fire, marine, engineering and general accident. Methaq serves the Abu Dhabi market from its head office with Dubai branches.
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Where Available
Based on listings we track, Methaq Takaful Insurance operates nationwide:
Nationwide availability
Availability may vary by product type. Always verify current availability directly with Methaq Takaful Insurance.
How We Compare
- • We review publicly available information from providers, including Shariah compliance documentation.
- • We compare financing structures, total costs, down payment requirements, and state availability.
- • We prioritize providers that clearly explain their halal compliance rationale and operate with transparency.
- • We note which products are available nationwide versus regionally.
- • Learn more about our methodology.
Quick Answer
Methaq Takaful Insurance offers halal financial products that comply with Shariah principles, avoiding interest (riba) and prohibited industries. Their products are available in 1 state and include Insurance options.
Key Takeaways
- Methaq Takaful Insurance offers Shariah-compliant financial products that avoid interest and prohibited industries.
- Products are available in 1 state: Nationwide.
- Product categories include Insurance.
- Always verify compliance directly with Methaq Takaful Insurance and consult qualified Islamic finance advisors when needed.
- Compare Methaq Takaful Insurance's products with other providers to find the best fit for your needs.
Important: HalalWallet provides educational information and comparisons to help you explore halal financial options. We do not provide financial, legal, or religious advice. Product structures and Shariah compliance oversight vary by provider. Always verify halal compliance directly with providers and consult with qualified Islamic finance advisors or scholars for guidance on specific products and your individual circumstances.
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-03-09
How to cite this page
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For time-sensitive claims (rates, fees, state availability), please verify directly with the provider's official documentation and note the retrieval date.
Frequently Asked Questions
What types of halal products does Methaq Takaful Insurance offer?
Methaq Takaful Insurance offers 1 product across 1 category. Methaq Takaful Insurance is best for [object Object],[object Object]. Review the products listed above or contact Methaq Takaful Insurance directly for current offerings.
How does Methaq Takaful Insurance ensure Shariah compliance?
Internal Sharia Supervisory Committee: Dr. Azzeddine Benzeghiba (chairman), Dr. Mohamed Abdelhakim Zoeir (member), Dr. Abdulnaser Ahmed Almannaee (member). Source: methaq.ae, verified 2026-08-05. CBUAE directive CBUAE/FCMCP/2023/1675 (31 March 2023): board dissolved, Interim Supervisory Committee appointed; new board seated 24 April 2025 with committees reconstituted (2025 sustainability report via ADX). CBUAE takaful licence 082 (register June 2026); rights-issue capital increase opened March 2025. Public fraud warnings: buy only through methaq.ae, the 600 565 65 hotline or disclosed approved agencies.
How does Methaq Takaful Insurance work?
Verify you are dealing with the real Methaq: Fake websites sell counterfeit Methaq policies; use methaq.ae or 600 565 65 only, and check any agent against the company's approved-agency disclosure. Quote motor, medical or home cover: Quote-based pricing through the hotline and offices; the book is motor-led with medical and home alongside. Contributions enter the takaful fund under new governance: The April 2025 board and reconstituted committees oversee the pool; the wakala fee is disclosed in the contract. Claims via the online portal or hotline: Online motor claim filing and roadside assistance dispatch through 600 565 65 continued operating throughout the administration. Re-underwrite the relationship annually: Renewals are the checkpoint: look for audited post-recapitalization results before extending beyond annual commitments.
Is Methaq Takaful Insurance available in my state?
Methaq Takaful Insurance operates nationwide, though specific products may have regional limitations. Always verify current availability directly with Methaq Takaful Insurance.
What are alternatives to Methaq Takaful Insurance?
Methaq's comparison set is really the sector's risk spectrum. Against ADNTC, its Abu Dhabi neighbour, the contrast is total: a decade of A- ratings versus a regulator-run rehabilitation. Against Takaful Emarat, the other recovery story, Takaful Emarat is two audited years further into its turnaround with published growth numbers Methaq cannot yet show. Against YAS Takaful, Methaq is the survivor: both failed compliance tests, but Methaq was rehabilitated while YAS was suspended from writing business. For a motor buyer the practical question is price versus the modest annual-policy risk of a supervised, recapitalized operator; for anything longer, the sector offers safer homes. Abu Dhabi National Takaful: The same home market with the opposite risk profile: ten years of A- ratings and no regulatory events. Watania Takaful General: Scale, published limits and catastrophe-proven claims capacity for similar motor-led needs. Takaful Emarat: The recovery playbook two years ahead: recapitalized, restored to DFM first category, with published growth.
Are Methaq Takaful Insurance's products more expensive than conventional options?
Halal financing structures can have different fee structures compared to conventional products. Some options may be competitive with conventional rates, while others may have different cost structures. Pricing varies by product type, location, and individual circumstances. Always compare total costs and terms when evaluating options.
How do I contact Methaq Takaful Insurance?
Contact information for Methaq Takaful Insurance should be available through their website or the product listings above. Use the action links provided with each product to visit Methaq Takaful Insurance's website or contact them directly for more information.
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