Al-Jazirah Takaful Company is a Saudi joint company which started by a decision of the council of Ministers No. (137) issued on 4/27/1431 AH and according to Royal Decree No. (M / 23) issued on 4/28/1431 AH and holds a commercial registry number 4030251980/ 7001791990 (TMN / 34 / 201312), with a capital of (470,664,030 Saudi riyals) - four hundred seventy million six hundred sixty-four thousand thirty Saudi riyals.
The idea of cooperative takaful arose in 2002 when Bank Al-Jazira established the Department of (Cooperative Takaful), which in turn developed the first Takaful program compatible with the provisions of Islamic law as an alternative to traditional life insurance programs. The administration continued its work until the decision to convert it into a company was issued, and it was restructured and its programs and strategies were formulated so that it became a cooperative insurance company, independently, administratively and financially, in 2014.