The creation of an insurance company operating in accordance with the provisions of Islamic Sharia’a emerged as an initiative of its founders: a number of Palestinian businessmen, firms and institutions, most notably the following individuals and entities:
- Establishment of Manage and Development Orphans Funds
- Palestinian Pension Agency
- Al-Mashreq Insurance Company
- Medmac General Contracting Company
- Station Trade Company
- Mr. Khalid Rafiq Natsheh
- Mr. Salah Fayez Ahmed Al-Doghma
- Mr. Yousef Mohammad Kamal” Ibrahim Hassouneh
The idea of an Islamic insurance firm has also gained the support of a number of natural and legal persons, dignitaries, and socio-economic entities. Tamkeen founders believed in the necessity of establishing a second Islamic insurance company to operate in Palestine since it has become the fastest growing and the most stable industry in all Arab and Islamic countries. By embracing the notion of Islamic insurance, Tamkeen responds to the needs of a large section of the Palestinian population which, for religious considerations, refrain from conventional insurance services.
The Company’s incorporation process started in the year 1438H - 2017 as a limited public shareholding company and registered as such at the Palestinian Ministry of National Economy under No. (562601476) with an authorized capital of USD 8 million. In 2018, the Palestinian Capital Market Authority granted the Company the license to practice insurance operations and officially provide its services to the Palestinian public.