In The Gambia, Islamic insurance is offered by two companies licensed by the Central Bank of The Gambia: Takaful Gambia Limited, active since January 2008, and West African Takaful Limited, licensed in July 2020, under general insurance law rather than a specific takaful act.
The central bank as watchdog of Gambian insurers
In The Gambia, insurers are regulated and supervised not by an independent commission but by the Central Bank of The Gambia. In 2015, it withdrew the licences of two insurers that failed to meet the required solvency margin.
A small market of eleven companies in 2015
When those licences were withdrawn, the Gambian market had eleven insurers. The sanction showed that the CBG actually enforces solvency, which also protects members of takaful companies subject to the same prudential requirements as their conventional competitors.
No takaful law, but an ordinary licence
No takaful-specific law has been identified in The Gambia. Islamic operators are licensed and supervised by the CBG under the general insurance framework. Sharia compliance therefore relies mainly on each company's internal committee, which you should question before buying.
Takaful Gambia, the pioneer since January 2008
Takaful Gambia Limited is the first takaful insurer registered in the country and has been operating since January 2008. Its head office is at Pipeline, in the Fajara area, and the company has six branches. It is led by Ndenneh Senghore.
A 170,000 dollar port claim settled
In December 2025, Takaful Gambia settled a 170,000 dollar claim for Alport Banjul, the operator of Banjul port, under co-insurance with Prime Insurance. The case shows that an Islamic insurer can share a large risk with a conventional company.
West African Takaful, licensed in July 2020
West African Takaful Limited obtained its licence in July 2020 with 30 million dalasis of capital raised. Its managing director, Momodou M. Joof, said this amount was double the statutory minimum required of Gambian insurers at the time of licensing.
An awareness seminar backed by the CBG
In 2020, West African Takaful held a seminar on the principles of Islamic insurance, at which a central bank representative spoke. Such events help people understand mutual donation and the role of the participants' fund managed by the operator.
Co-insurance and reinsurance of large risks
For a port, a warehouse or a fleet of lorries, a single company cannot always carry the whole risk. Co-insurance with a conventional insurer is then common. For compliant reinsurance, read our feature on retakaful for operators.
No published market statistics
No verified figures measure takaful's share of Gambian insurance contributions. Even so, two dedicated companies in a market of around ten insurers, with a six-branch network for the pioneer, give a sense of its practical presence across the country.
Comparing with neighbouring Senegal
The Gambia is surrounded by Senegalese territory, and many families live on both sides of the border. The takaful market in Senegal falls under a different, regional regulator, and a Gambian policy may not cover a vehicle driven in Senegal.
Motor insurance and third-party liability
Gambian drivers must be insured for third-party liability. With two licensed takaful companies, they can ask for a compliant quote, while checking whether it remains valid when crossing into Senegal and what procedure applies after an accident.
Hajj, Umrah and repatriation of the deceased
For pilgrims and for the diaspora settled in Europe or the United States, repatriating a body to Banjul is a sensitive matter. Ask local operators whether they offer travel or assistance cover, and otherwise compare policies bought in the country of residence.
Steps to takaful cover in The Gambia
- Check with the Central Bank of The Gambia that the company, Takaful Gambia or West African Takaful, holds a valid licence.
- Visit one of the six Takaful Gambia branches or the West African Takaful head office to get a written quote.
- Ask about the management model and the sharia committee's opinion, since no takaful law sets these requirements.
- Compare the contribution, management charges and surplus allocation rules of the two operators.
- Check exclusions, excess and territorial validity, especially for driving in Senegal.
- Report any loss promptly, with a police report and supporting documents, to speed up compensation.
How the takaful contribution is built in The Gambia
| Component | Purpose | Main variables |
|---|---|---|
| Tabarru contribution | Feeds the common fund that pays claims | Type of asset, value, past claims |
| Management charges | Pay the takaful company | Wakala or mudaraba model adopted |
| Surplus sharing | May benefit participants | Underwriting result and CBG solvency requirements |
| Co-insurance cost | Shares a large risk with another insurer | Size of risk, agreement between companies |
| Excess | Amount left for the policyholder to bear | Cover bought and level chosen |
What Gambian insurers ask for
- National ID card or passport
- Proof of residence
- Vehicle registration card and driving licence
- Land title, lease or inventory for a home or shop
- Islamic financing agreement if the asset is financed
- Company registration for a business policy
Common mistakes by Gambian policyholders
- Assuming the absence of a takaful law means there is no need to check the central bank licence, when the CBG has already revoked licences.
- Treating an Islamic name as a guarantee of compliance without consulting the company's sharia committee.
- Forgetting that co-insurance with a conventional insurer may apply to large industrial or port risks.
- Driving into neighbouring Senegal without checking that the Gambian motor policy covers that territory and includes assistance after an accident.
- Accepting a surplus split promised verbally by an agent but missing from the written conditions issued by the company.
Questions about Gambian Islamic insurance
Who oversees takaful companies in The Gambia?
The Central Bank of The Gambia licenses and supervises all insurers, including takaful operators. It checks the solvency margin in particular and withdrew the licences of two companies in 2015. No separate takaful law has been identified.
Which is the oldest Gambian takaful company?
Takaful Gambia Limited, active since January 2008, is the first takaful insurer registered in the country. Based at Pipeline in Fajara, it has six branches and notably paid Alport Banjul 170,000 dollars in 2025.
Why would an Islamic insurer co-insure with a conventional company?
For a large risk such as a port, sharing the cover limits the exposure of the participants' fund. The Alport Banjul claim was settled together with Prime Insurance. The exact structure of such sharing should be approved by the operator's sharia committee.
Do scholars accept this insurance model?
The International Islamic Fiqh Academy and AAOIFI accept cooperative insurance based on mutual donation. The compliance of a particular Gambian policy must still be checked with the company's sharia committee, as local law sets no dedicated takaful rules.
Takaful operators and organisations
Takaful GambiaGambian takaful insurance company providing Sharia-compliant cover to individuals and businesses.Prudential BSN TakafulMalaysian takaful operator, a joint venture of Prudential and Bank Simpanan Nasional, offering family and general takaful cover.Takaful EmaratUAE takaful operator specialising in health and family protection cover for individuals and businesses.Indicative list: assuranceislamique.com has no commercial link with these organisations. Always check the licence with the local regulator.