Takaful CASCO is the Islamic equivalent of voluntary motor own-damage insurance. It protects the participant’s car against damage, theft and hijacking.
How takaful works
The policyholder is a participant in a takaful fund: the system assigns a unique participant number and the contribution goes into the mutual assistance fund. The contract uses a “takaful period” instead of an insurance period and a takaful contribution instead of a premium.
If the car is pledged
The application records separately whether the car is pledged as collateral. If it is, the beneficiary is usually the bank — the beneficiary block is then completed and the indemnity is paid to it. If the car is not pledged, the indemnity is paid to the participant.
What is covered
- damage to the car;
- theft;
- hijacking;
- additional risks at the participant’s choice.
Contribution
The contribution is calculated from the sum insured at a rate that depends on the type and value of the car, the cover selected, the drivers admitted and the participation history. The total is the participant’s takaful contribution to the mutual assistance fund. A sales tax of 2% is applied.
How to arrange it
- Enter the takaful period and the participant’s details; state whether the car is pledged.
- If it is pledged, complete the beneficiary’s details — the bank or another party.
- Fill in the vehicle details: type, make, model, engine capacity, year of manufacture, VIN and registration data; attach photographs.
- State the sum insured, the cover and the list of drivers admitted.
- Complete electronic identification, sign with an electronic digital signature and pay the takaful contribution.
The policy can also be arranged at the head office and at any SIO branch.
Documents required
The participant’s passport; the vehicle registration certificate; driving licences of the admitted drivers; where the car is pledged, the beneficiary’s details and the pledge agreement. The car must be presented for inspection.
If an insured event occurs
- Stop, switch on the hazard lights and set out the warning triangle.
- Notify the competent authorities: the road safety body after an accident, the police in case of theft or hijacking, the fire service in case of fire.
- Photograph or film the damage.
- Notify SIO — on the call centre numbers 0 553 54 54 00 and 0 707 54 54 00 or through the claim form on the website.
- Do not repair the car before it has been inspected by the insurer’s representative.
Other takaful products
TDSI / DSIZI (Ijara) — takaful property cover; Takaful travel — for trips abroad.
Legal basis
Takaful cover is provided in accordance with the Law of the Kyrgyz Republic "On Insurance and Insurance Activities" No. 89 of 29 April 2025 and SIO’s takaful rules.
Electronic specimen of the contract (insurance policy)
A specimen of the Takaful CASCO insurance policy is available here: download PDF. The specimen contains sample data; the authenticity of a policy is verified via the QR code or the link printed at the bottom of the policy. It is published in accordance with Article 21, part 2, item 10 of the Law of the Kyrgyz Republic on Insurance and Insurance Activities.