Malawi Muslims Official Website
No Result
View All Result
  • Login
  • Home
  • Religion
  • Business
  • Health
  • Education
  • Entertainment
  • Politics
  • Sports
  • World
Contact Us
  • Home
  • Religion
  • Business
  • Health
  • Education
  • Entertainment
  • Politics
  • Sports
  • World
No Result
View All Result
Malawi Muslims Official Website
No Result
View All Result
  • Home
  • Religion
  • Business
  • Health
  • Education
  • Entertainment
  • Politics
  • Sports
  • World
Home Featured
Life Insurance Cover Can Improve One’s Socioeconomic Status, Says Takaful Cooperative Society

Life Insurance Cover Can Improve One’s Socioeconomic Status, Says Takaful Cooperative Society

Yasin by Yasin
5 years ago
in Featured
Reading Time: 3 mins read
A A
1
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

The Chief Executive Officer Addil Chilungo said this when he interacted with chiefs where the cooperative also received an insurance cover cheque for 70 people from Partners in Action for Sustainable Development (PASD) for people in T/A Malemia, Zomba.

RELATED POSTS

Pastor Asks for Masajid

Business Tycoon Donates Football Kit to Mangochi Police

Islamic School Director Seeks Help

Chilungo said there are several benefits an individual gets when he joins Takaful Cooperative, which help in improving one’s socioeconomic life.

He said when one becomes a member of the cooperative, there is always an opportunity to access loans which help in improving the livelihood of the members.

“Once one becomes a member there is an opportunity to access loans, we have fertiliser loans, building materials among other loans which help in improving one’s welbeing” Chilungo said.

On the sustainability of the cooperative, Chilungo said there are committees which are instituted in the communities in order to make sure that there is coordination among the members.

He said for the months the cooperative has operated in the country, it has been proved that it’s transactions are done at a best pace hence making its members able to access

“We have committees in the areas which always intercut with people and even when one losses a relative, information is sent through such committees and the compasation is sent with minutes, our system is efficient” Chilungo explained.

He then encouraged people to become members and pay for relatives saying life insurance cover eases burdens which come due to death.

He also called upon those who have potential to assist others to emulate what PASD has done by sponsoring others to join the scheme.

“PASD’S move of sponsoring 70 people is because they are satisfied with how our cooperative works, so we are urging individuals who have relatives even organisations to support those who are needy just as what PASD has done” He pleaded.

On his part Executive Director for Partners In Action For Sustainable Development (PASD) Amos Ezekeil Chiyenda said his organisation understands the challenges and panic bereaved families go through when they lose a relative.

Chiyenda said it is from this that PASD has decided to support 70 people for a year to be members of Takaful Funeral cover from the area, which is part of its PASD’s catchment area.

The Director said there are plans to increase the number to 100, and also try to make sure that those supported members have ownership of the scheme.

“We are working in this area, and we are concerned with the panic people experience when they lose their loved ones, that’s why PASD has decided to pay for these 70 people for 11 months, and in January 2019 we will take on board another 30 people to it 100”. Chiyenda explained.

Chiyenda said the task of identifying the beneficiaries will be done by the chiefs from the area, but PASD will assess the proposed named in oder to establish if they are really needy.

He added that they will sensitive those to be selected so that they embrace ownership of the scheme, saying some people may take it slightly.

ADVERTISEMENT

“The task of choosing the benefits will be with the chiefs, but as PASD we will use the poverty scale to determine whether those identified people are really needy,  we will also make sure that there is full ownership of the scheme by the beneficiaries” The director said.

Commenting on the development Group Village head Mtogolo said the initiative is a welcome development as people are always stranded during funeral times.

He however challenged the authorities to make sure that they comply to conditions stipulated in the scheme.

The funeral scheme cover a wife, a husband and 4 children, and Takaful cooperative society is eying to have more than 10,000 members by the end of this year.

ShareTweetSend

Related Posts

Pastor Gama
Featured

Pastor Asks for Masajid

by Davie Katuli
September 8, 2023
0
0

Speaking to the Muslim Media Agency, Pastor Gama said he has decided to replace his churches with masajid after participating...

Read more

Business Tycoon Donates Football Kit to Mangochi Police

Islamic School Director Seeks Help

Muslim Women Urged to be United

Mangochi Police PRO Inspires Pupils

Malawian -British Billionaire to Turn ‘ Iconic ‘ Trocadero building into Mosque

Comments 1

  1. Bwanakaka says:
    5 years ago

    Surely we have historically (religiously) proved not to be a fancy/fashion-trend community when it comes to our funeral processions.

    Treachery convincing our poor villager to be paying monthly… premiums for his/her funeral cover (and pending loans on it), does not just sound weird but absolutely unnecessary for our folk.

    -What happens when they default on their premiums (as expected)? Will you still handle their funeral expenses?
    -What happens when they default on their Loan repayments (most likely)? Will you confiscate their few assets to recover your loan?

    Rather encourage our community on a habit of investing their meagre resources than spending them on less important products like a funeral cover.

    My humble input.

  • Organisation Drills Borehole in Balaka District: Urges Organisations to Develop Rural Areas

    Organisation Drills Borehole in Balaka District: Urges Organisations to Develop Rural Areas

    0 shares
    Share 0 Tweet 0
  • LMJ Medicals for State-of-the-art Hospital

    0 shares
    Share 0 Tweet 0
  • Fuel Prices Go Up in Malawi

    0 shares
    Share 0 Tweet 0
  • Seek Knowledge Regardless of Age – Muslims Advised

    0 shares
    Share 0 Tweet 0
  • Police warn Malawians against sending money to unknown Facebook friends

    0 shares
    Share 0 Tweet 0
  • Trending
  • Comments
  • Latest
Organisation Drills Borehole in Balaka District: Urges Organisations to Develop Rural Areas

Organisation Drills Borehole in Balaka District: Urges Organisations to Develop Rural Areas

July 28, 2022

LMJ Medicals for State-of-the-art Hospital

December 6, 2015
Fuel Prices Go Up in Malawi

Fuel Prices Go Up in Malawi

March 8, 2021
Seek Knowledge Regardless of Age – Muslims Advised

Seek Knowledge Regardless of Age – Muslims Advised

May 11, 2022

Malawian Muslims Chased at Asian Muslims Milad–un-Nabee Feast

78

Supreme Council of Ulama Says Eid Adha Tuesday

28

Fatima Rajab the Guardian Angel, Abandoned for Refusing to Denounce Islam

24

MACRA BANS RADIO ISLAM PROGRAM

20
Pastor Gama

Pastor Asks for Masajid

September 8, 2023
Matola Visits Kapichira Hydropower Station

Matola Visits Kapichira Hydropower Station

August 5, 2023
Primary School Teacher Arrested for Defiling Teenage Learner

Primary School Teacher Arrested for Defiling Teenage Learner

August 3, 2023
Abida Mia encourages women to be independent & hardworking

Abida Mia encourages women to be independent & hardworking

July 31, 2023

Connect

Recent News

Pastor Gama

Pastor Asks for Masajid

September 8, 2023
Matola Visits Kapichira Hydropower Station

Matola Visits Kapichira Hydropower Station

August 5, 2023
Primary School Teacher Arrested for Defiling Teenage Learner

Primary School Teacher Arrested for Defiling Teenage Learner

August 3, 2023

Faith Podcast

Swalah 101

Ramadhan

Akudziwanji Za Chisilamu

Islamic Finance

Categories

  • Analysis
  • Business
  • Column
  • Crime and Society
  • Culture
  • Economy
  • Education
  • Entertainment
  • Featured
  • General
  • Health
  • International
  • Opinion
  • Politics
  • Religion
  • Sports
  • Travel

News in Pictures

Amir Jakhura
Amir Jakhura Addressing the Journalists
Some of the beneficiaries

© 2022 Malawi Muslims Official Website -Website by Freelance Web Solutions.

No Result
View All Result
  • Home
  • Religion
  • Business
  • Health
  • Education
  • Entertainment
  • Politics
  • Sports
  • World

© 2022 Malawi Muslims Official Website -Website by Freelance Web Solutions.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00