CARD MBA launches Takaful products for the CARD Islamic community

By: Jireh Pearl Casionan

CARD Mutual Benefit Association (CARD MBA) officially launched its Takaful products on
March 23, 2026, for clients of CARD, Inc. Paglambo and CARD Bank Islamic Branch. The
initiative is part of the ongoing efforts of the CARD Mutually Reinforcing Institutions (CARD MRI) to provide inclusive and appropriate services to diverse communities, with a special focus on Muslim clients.

Anchored in Shari’ah or Islamic law principles, this program aims to protect against unexpected
events such as accidents, illness, and loss of loved ones.

CARD MBA CEO Jocelyn Dequito said the move is an important step in widening access to
programs that address the needs of various groups. “This is part of our continuing mission to
deliver caring, inclusive, and responsive financial services,” she said.

The Micro Takaful products include three main offerings: Family Takaful, Basic Takaful
Extension, and Golden Takaful. These are designed to respond to the needs of members at
different stages of life.

The Family Takaful serves as the main policy for clients, covering the members and their
qualified legal dependents. It provides benefits in cases of death or total and permanent
disability. It also includes hospitalization benefits in the event of an accident involving the
member or their legal spouse.

It also features a retirement fund component, which is gradually built to support members upon
retirement. This helps members prepare for their long-term needs.

The Basic Takaful Extension is designed for members transitioning from the Family Takaful
upon reaching age 70. It allows them to continue receiving basic protection even after
retirement, ensuring continued support during old age.

This product is offered as part of Golden Takaful, a 10-pay whole life insurance plan. Members
who avail of the Basic Takaful Extension may also access Golden Takaful. Both products
provide benefits up to age 100, helping to secure financial support for the family.

In addition to these, CARD MBA also offers Financing Takaful which provides protection for the
loan and financial obligations of members under their Islamic financing contracts. It also helps
accredited Islamic financing institutions recover the financing amount in cases of death, total
and permanent disability, and motor vehicular accident hospitalization. Under this, members are
covered for the duration of their financing contract.

Dequito said the launch of the Takaful product is part of the association’s continuing efforts to
make inclusive protection more accessible across different cultural and religious contexts.

“Takaful allows our members to access insurance that serves as a practical safety net while
respecting their beliefs and way of life,” she said.

In the coming months, CARD MBA expects more members to avail themselves of the products
and gain stronger protection for their future.