ARAFAT PLAN

“And proclaim the Pilgrimage among men: they will come to thee on foot

and (mounted) on every kind of camel, lean on account of journeys through

deep and distant mountain highways”

»Holy Quran, S.xxii. 27

ARAFAT PLAN

Key Features

–Systematic savings for hajj;

–Attractive returns on investment based on the Islamic concept of al-Mudharabah;

–Flexible maturity period ranging from 1 to 10 years;

–Financial assistance in the event of untimely death based on the Islamic principle of Tabarru;

–Tax relief on contributions;

–Takaful instalments not forfeited in the event of cancellation;

–Part-withdrawal allowed.

•Eligibility

–All individuals aged between 18 and 55 years

•Mode of Payment

–Direct payment by cash or cheque;

–Bank standing instruction;

–Salary deduction

•Distribution of Contribution

–A major proportion of the contribution will be credited into the Participant’s Account (PA) as savings towards hajj;

–The balance will be credited into the Participants’ Special Account (PSA) as “tabarru” for the payment of death benefits.

•Benefits

–On Maturity :

•The total amount in the Participant’s Account plus profit sharing;

•The net surplus allocated to the Participants’ Special Account based on the last actuarial valuation.

–On Death :

•The total amount in the Participant’s Account plus profit sharing;

•The total future contributions payable from the date of death to maturity date of the Plan under the PSA.

–On Surrender:

•Payment of the amount in the Participant’s Account plus profit sharing.