Australia now has its first nationally available Shariah-certified vehicle protection product. Najmaa Mutual, a newly established discretionary takaful mutual, has launched motor protection takaful across the country. The group says it is the first offering of its kind in Australia, with plans to expand into home and business protection in the near future.
According to co-founder Abdulrahman Zreika, the launch addresses a gap that has existed despite Australia’s diversity. “Australia is one of the world’s most multicultural countries, yet until now Australians seeking a Shariah-certified takaful option for vehicle protection have had no nationally available choice,” he said. “Our goal isn’t to replace conventional insurance – it’s to expand consumer choice through a different model of protection.”
Najmaa describes takaful as a member-based model grounded in mutual assistance, shared responsibility, and transparency. For many Muslims, conventional insurance has not aligned with religious values because it is generally viewed under Shariah principles as involving interest, excessive uncertainty, and gambling. Until now, there has been no nationally available Shariah-certified alternative for vehicle protection in Australia.
Co-founder Lisa Chehab said the mutual was created to meet growing demand for financial products that reflect personal values. “For decades, financial products have largely competed on price and product features. We believe people increasingly want financial products that not only meet their needs but also align with their values,” she said. “People shouldn’t have to compromise their values to protect what matters most.”
Najmaa Mutual has also confirmed that membership is open to everyone, regardless of faith or background. The launch represents a new step in making ethical, Shariah-compliant financial protection accessible to Australian consumers.