Beema (Damaan Islamic Insurance) Review - Halal Finance Products
Reviewed quarterly and updated for major content changes.
Beema (Damaan Islamic Insurance) offers halal financial products and services designed to align with Islamic principles. These options provide alternatives to conventional interest-based financial products, using structures like Murabaha, Ijara, and Musharakah.
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HalalWallet 2026 Review
Beema (Damaan Islamic Insurance) - At a Glance
4
Products Reviewed
Qatar
Availability
1
Category
Our Verdict
Beema is the takaful operator Qatar's Islamic financial establishment built for itself, QIB, QIC, Barwa, AlRayan and QInvest founded it in 2009, and it has been the market's largest takaful writer since 2014. The FY2025 numbers are the sector's strongest: QAR 605.2M of contributions growing 28%, QAR 95.6M net profit, 340% solvency and dual A-range ratings. More importantly for policyholders, the surplus mechanism demonstrably works, QAR 11.8M of net surplus in FY2025, QAR 66.9M sitting as distributable surplus payable, and actual cash out the door (QAR 2.34M in Q1 2025). Product terms are the most transparent in the market, down to a published QR 120/year life policy with fixed sums assured and a 14-day replacement car benefit. The gaps are real but secondary: the wakala percentage is undisclosed (only the QAR 147.7M aggregate), the mudarib takes a hefty 70% of investment profit, and surplus fell from QAR 19.3M in 2024 as claims rose. For most buyers weighing scale, digital experience and verified surplus payouts, Beema is the strongest all-round choice in Qatari takaful.
Pros & Cons
What We Like
- Market leader since 2014 with QAR 605.2M FY2025 contributions, 28% growth and QAR 95.6M net profit
- Cash surplus actually distributed: QAR 2.34M paid in Q1 2025, QAR 66.9M distributable surplus payable at year-end
- AM Best A- and Moody's A3 with 340% solvency and a debt-free capital structure
- Most transparent retail terms in the market: published life sums assured, replacement car limits and roadside numbers
- Founded and anchored by QIB, QIC, Barwa, AlRayan and QInvest, with QCB license 13/2009 and a liquidation-to-charity clause protecting the pool
What Could Be Better
- Wakala fee percentage is not published, only the aggregate QAR 147.7M charged in FY2025
- Mudarib share of 70% of policyholder investment profit (up from 60% in 2023) is a large operator take
- Policyholder net surplus fell to QAR 11.8M in FY2025 from QAR 19.3M as claims costs rose, with the 2024 combined ratio at 93.4% per AM Best
- Retail lineup is narrower than QIIC's: no individual medical product, health cover is group-only
- Comprehensive motor cover stops at paved roads unless the off-road extension is bought, and dunes are never covered
Who Is Beema (Damaan Islamic Insurance) Best For?
Digital-first buyers who want policies issued in minutes without branch visits
Online issuance via beema-online.com, phone-and-SMS payment links and door-to-door service make it the least friction operator in the market
Expatriate workers who need cheap, clearly documented life protection
QR 120/year buys QR 50,000 natural death and QR 100,000 accidental cover with 5-day beneficiary payout and residence-permit protection clauses
Car owners who want comprehensive cover with enforceable, written benefit limits
Defined add-ons like the 14-day QR 100/day replacement car and zero-depreciation agency parts, backed by the sector's largest balance sheet
Detailed Analysis
Damaan Islamic Insurance Company, branded Beema, was established in 2009 in Lusail City under Qatar Central Bank license 13/2009, founded by the heart of Qatar's Islamic financial sector: Qatar Islamic Bank and Qatar Insurance Company at 18.75% each, Barwa Real Estate and AlRayan Bank at 15% each, and QInvest at 7.5%. It listed on the QSE Main Market in January 2023 under ticker BEMA with QAR 200M share capital, and closed 2025 with a QAR 895M market capitalization. By recognized contributions it has been Qatar's largest takaful player since 2014.
FY2025 was a growth year: recognized takaful contributions of QAR 605.2M, up 28%, split across Takaful and Health (QAR 296M), Motor (QAR 151M), Fire and General Accident (QAR 140M) and Marine and Aviation (QAR 18M). Shareholders' net profit rose 13% to QAR 95.6M on total shareholder income of QAR 190.9M, of which wakala fees were QAR 147.7M and the mudarib share QAR 20.0M. The balance sheet is debt-free with a 340% solvency ratio, investments at fair value of QAR 1,026.4M, and shareholders' equity of QAR 619.2M. Since 2023 Beema has also written selective facultative business across the GCC.
The takaful model is wakala plus mudaraba with disclosed mechanics. Policyholder accounts are fully separated; the company's published principles state the mudarib share was raised from 60% to 70% of policyholder investment profit effective 1 July 2023, fixed annually by the Sharia' Supervisory Board. Surplus is distributed to policyholders in proportion to contributions when the board of directors decides and the Sharia board approves. The record shows it happens: FY2025 policyholder net surplus was QAR 11.8M (FY2024: QAR 19.3M), distributable surplus payable stood at QAR 66.9M, and QAR 2.34M was paid to policyholders in the first quarter of 2025 alone. AM Best separately noted Beema's track record of accumulating policyholder surpluses while regularly distributing them. On liquidation, all policyholder funds go to charity under Sharia board supervision.
Shariah governance is a named three-scholar board: Sheikh Dr. Waleed Bin Hadi (chairman), Dr. Abdul Aziz El Qassar and Dr. Abdul Rahman Al Saadi. The same chairman leads QIIC's board, reflecting the small pool of senior Qatari Shariah scholars. Ratings agencies treat the structure as robust: AM Best affirmed A- (Excellent) in May 2025 and again in June 2026, citing very strong balance sheet strength and the shareholders' obligation to support the policyholders' fund through any deficit, and Moody's has held an A3 IFSR since March 2021.
The assessment: Beema pairs the sector's strongest current financials with its most honest retail disclosure. Published life policy terms, quantified motor add-ons and a working digital sales channel set the transparency bar, while the verified surplus payouts prove the takaful promise is more than structural. The undisclosed wakala percentage and the 70% mudarib take are the fair criticisms, and the FY2025 surplus decline shows claims inflation biting. Against QIIC's 30-year surplus streak Beema's record is shorter, but on nearly every operational dimension it is the market's pacesetter.
How It Works
Beema runs a wakala plus mudarib takaful model with contractual account separation. Policyholder contributions and their investment returns are held in a distinct account, debited only for claims, retakaful contributions, required provisions and reserves, and the wakala fee that compensates shareholders for managing operations (QAR 147.7M in FY2025; the percentage is not published). Beema additionally invests policyholder funds as mudarib, taking 70% of resulting investment profit since 1 July 2023 (previously 60%), a rate fixed annually by the Sharia' Supervisory Board. Any surplus remaining in the policyholder account is distributed to policyholders in proportion to contributions paid, in the manner decided by the board of directors and approved by the Sharia board; QAR 66.9M sat as distributable surplus payable at end-2025 and QAR 2.34M was paid out in Q1 2025. If the company were ever liquidated, all accumulated policyholder funds would be distributed to selected charities under Sharia board supervision, ensuring shareholders never capture the mutual pool.
Shariah Compliance Review
Oversight Level
Review details on provider's website
Sharia' Supervisory Board: Sheikh Dr. Waleed Bin Hadi (chairman), Dr. Abdul Aziz El Qassar, Dr. Abdul Rahman Al Saadi, named on the Board and Management page (verified 2026-08-04)
Mudarib share raised from 60% to 70% of policyholder investment profit effective 1 July 2023, disclosed on the company overview page with the rate fixed annually by the Sharia board (verified 2026-08-04)
FY2025 audited results: QAR 605.2M contributions, QAR 147.7M wakala fees, QAR 20.0M mudarib share, QAR 11.8M policyholder net surplus, QAR 66.9M distributable surplus payable (FY2025 investor presentation, verified 2026-08-04)
Liquidation clause: all policyholder-account funds go to charity under Sharia board supervision; QCB license 13/2009, commercial registration 43652 (company overview, verified 2026-08-04)
Shariah compliance should always be verified directly with Beema (Damaan Islamic Insurance). HalalWallet reports publicly available oversight information but does not issue fatwas or certify compliance.
How It Compares
Against QIIC, Beema is bigger (QAR 605.2M vs QAR 551.1M contributions), more digital and more transparent on product terms, but QIIC's 15% surplus declared every year since 1995 outguns Beema's 2009-vintage record, and QIIC sells individual medical cover that Beema lacks. Against Alkhaleej Takaful, Beema's policyholder fund is in far better shape, QAR 11.8M surplus versus Alkhaleej's QAR 29.3M deficit in FY2025, though Alkhaleej's motor tiers offer longer agency repair (5 years). Against General Takaful, Beema cannot match the disclosed 20% wakala fee but pays surplus in cash while General Takaful's pool is still working off QAR 27.2M of accumulated deficits. Against Doha Takaful, Beema wins on every disclosure dimension: named scholars, published mudarib rate, audited surplus record and instant digital purchase.
vs. Qatar Islamic Insurance (QIIC)
The 30-year surplus streak at 15% and an individual medical range Beema lacks, at the cost of an analog buying experience and a 30% wakala fee
Richer motor feature ladder with 5-year agency repair and online issuance, but a QAR 29.3M policyholder fund deficit in FY2025 and no surplus paid since 2022
vs. General Takaful
Best disclosed economics (20% wakala) and published medical prices from QAR 420/year, but accumulated pool deficits and thinner product documentation
vs. Doha Takaful
Strong motor service benefits inside the A- rated Doha Insurance Group, but no published Shariah governance, fees or surplus data
Bottom Line
Beema is the strongest all-round takaful operator in Qatar right now: market-leading scale, dual A-range ratings, 340% solvency, honest product disclosure and a surplus mechanism that verifiably pays cash. Quibble with the 70% mudarib share and the unpublished wakala rate, but if you buy one takaful policy in Qatar through a screen, it will probably, and reasonably, be Beema's.
Products from Beema (Damaan Islamic Insurance)
Why It's Halal
Beema runs a wakala plus mudarib takaful model with strict account separation between policyholders and shareholders, spelled out in its published company principles. Policyholder contributions and their investment returns sit in a distinct account debited only for claims, retakaful, reserves and the wakala fee. Beema invests policyholder funds as mudarib for a share of investment profit fixed annually by the Sharia' Supervisory Board, raised from 60% to 70% effective 1 July 2023, a change the company discloses openly. Surplus is distributed to policyholders in proportion to contributions when the board of directors decides and the Sharia board approves: FY2025 policyholder net surplus was QAR 11.8M (FY2024: QAR 19.3M) with QAR 66.9M of distributable surplus payable on the balance sheet, and QAR 2.34M was actually paid out in Q1 2025 alone. On liquidation, all policyholder-account funds go to charity under Sharia board supervision, removing shareholder claims on the pool. Founded by Qatar Islamic Bank, Qatar Insurance Company, Barwa, AlRayan Bank and QInvest, and licensed by Qatar Central Bank (13/2009). Home sits within the fire and general accident segment, which wrote QAR 140M of recognized contributions in FY2025, up 34% year on year.
Beema (Damaan Islamic Insurance)
Home Takaful
Home takaful covering owned, rented and investment properties against fire, theft, earthquake, water damage and other allied perils, for both the building and its contents. Beema's page walks through the practical cases: homeowners insuring structure and interior, landlords layering rental risk cover, and contents-only policies for tenants protecting furniture, electronics, antiques and jewelry against loss, theft or damage. Water damage from burst pipes and appliance leaks, one of the most common claim sources in Qatar, is explicitly covered. Policies are arranged by phone (44050555), at beema-online.com or in branch, with premiums payable online via SMS or email link.
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Beema (Damaan Islamic Insurance)
Individual Life Takaful
Annual individual family takaful with published, fixed terms: QR 50,000 sum assured for natural death, QR 100,000 for accidental death, and disability compensation (total permanent and partial permanent) per the policy scale, for anyone aged 18 to 65, at a flat contribution of QR 120 per year. Death benefits are paid to the named beneficiary within 5 working days of complete documentation, with attestation accepted from home-country authorities or the embassy in Doha. Expiry of a residence permit for genuine reasons or a sponsor dispute does not void cover, an unusually worker-friendly term. Pro-rata refunds apply if you leave Qatar mid-term with no claims.
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Beema (Damaan Islamic Insurance)
Motor Takaful (Comprehensive + Third Party Liability)
Two-tier car takaful from Qatar's largest takaful writer. The compulsory Third Party Liability policy carries unlimited third party cover as adjudged by the courts, including bodily injury to passengers and the driver. Comprehensive adds own-damage cover on paved roads across Qatar, with paid add-ons for agency repairs with zero depreciation on new spare parts (tires and batteries excluded), a replacement car at QR 100 per day for up to 14 days while yours is repaired, off-road extension for non-metalled roads (sand dunes excluded), and 24/7 roadside assistance on 44810400 covering battery boost, fuel delivery, flat tires and towing. Policies are sold by phone (44050555) with an online payment link, at beema-online.com, or in branch.
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Beema (Damaan Islamic Insurance)
Travel Takaful
Travel takaful covering the four failure modes of any trip: unexpected medical expenses, delays, cancellations and lost luggage. Documented covers include trip cancellation (illness, emergencies, even travel company financial default), flight delay or cancellation with ticket refund, delayed, lost, stolen or damaged baggage, lost passport replacement including issuing fees, natural disaster losses, and bodily injury with emergency medical care, medical evacuation and dental cover. Policies are issued fast: get your ticket, call 44050555 or visit beema-online.com, pay via the link, done. Cover is available for both leisure and business travel, domestic or international.
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Where Available
Beema (Damaan Islamic Insurance) serves customers across Qatar. Specific products may have their own eligibility requirements, so always verify current availability directly with Beema (Damaan Islamic Insurance).
How We Compare
- • We review publicly available information from providers, including Shariah compliance documentation.
- • We compare financing structures, total costs, down payment requirements, and eligibility conditions.
- • We prioritize providers that clearly explain their halal compliance rationale and operate with transparency.
- • Learn more about our methodology.
Quick Answer
Beema (Damaan Islamic Insurance) offers halal financial products that comply with Shariah principles, avoiding interest (riba) and prohibited industries. Their products are available across Qatar and include Insurance options.
Key Takeaways
- Beema (Damaan Islamic Insurance) offers Shariah-compliant financial products that avoid interest and prohibited industries.
- Products are available across Qatar.
- Product categories include Insurance.
- Always verify compliance directly with Beema (Damaan Islamic Insurance) and consult qualified Islamic finance advisors when needed.
- Compare Beema (Damaan Islamic Insurance)'s products with other providers to find the best fit for your needs.
Important: HalalWallet provides educational information and comparisons to help you explore halal financial options. We do not provide financial, legal, or religious advice. Product structures and Shariah compliance oversight vary by provider. Always verify halal compliance directly with providers and consult with qualified Islamic finance advisors or scholars for guidance on specific products and your individual circumstances.
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-03-09
- HalalWallet Methodology
- Editorial Policy
- Disclosures
- Beema company overview (founders, mudarib 70%, surplus and liquidation rules)
- Beema FY2025 investor presentation (audited results, solvency, surplus)
- Beema Board and Management (Sharia' Supervisory Board members)
- AM Best affirms Beema A- (Excellent), June 2026
How to cite this page
Preferred format:
For time-sensitive claims (rates, fees, state availability), please verify directly with the provider's official documentation and note the retrieval date.
Frequently Asked Questions
What types of halal products does Beema (Damaan Islamic Insurance) offer?
Beema (Damaan Islamic Insurance) offers 4 products across 1 category. Beema (Damaan Islamic Insurance) is best for [object Object],[object Object],[object Object]. Review the products listed above or contact Beema (Damaan Islamic Insurance) directly for current offerings.
How does Beema (Damaan Islamic Insurance) ensure Shariah compliance?
Sharia' Supervisory Board: Sheikh Dr. Waleed Bin Hadi (chairman), Dr. Abdul Aziz El Qassar, Dr. Abdul Rahman Al Saadi, named on the Board and Management page (verified 2026-08-04) Mudarib share raised from 60% to 70% of policyholder investment profit effective 1 July 2023, disclosed on the company overview page with the rate fixed annually by the Sharia board (verified 2026-08-04) FY2025 audited results: QAR 605.2M contributions, QAR 147.7M wakala fees, QAR 20.0M mudarib share, QAR 11.8M policyholder net surplus, QAR 66.9M distributable surplus payable (FY2025 investor presentation, verified 2026-08-04) Liquidation clause: all policyholder-account funds go to charity under Sharia board supervision; QCB license 13/2009, commercial registration 43652 (company overview, verified 2026-08-04)
How does Beema (Damaan Islamic Insurance) work?
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Is Beema (Damaan Islamic Insurance) available where I live in Qatar?
Beema (Damaan Islamic Insurance) serves customers across Qatar. Specific products may have their own eligibility requirements. Always verify current availability directly with Beema (Damaan Islamic Insurance).
What are alternatives to Beema (Damaan Islamic Insurance)?
Against QIIC, Beema is bigger (QAR 605.2M vs QAR 551.1M contributions), more digital and more transparent on product terms, but QIIC's 15% surplus declared every year since 1995 outguns Beema's 2009-vintage record, and QIIC sells individual medical cover that Beema lacks. Against Alkhaleej Takaful, Beema's policyholder fund is in far better shape, QAR 11.8M surplus versus Alkhaleej's QAR 29.3M deficit in FY2025, though Alkhaleej's motor tiers offer longer agency repair (5 years). Against General Takaful, Beema cannot match the disclosed 20% wakala fee but pays surplus in cash while General Takaful's pool is still working off QAR 27.2M of accumulated deficits. Against Doha Takaful, Beema wins on every disclosure dimension: named scholars, published mudarib rate, audited surplus record and instant digital purchase. Qatar Islamic Insurance (QIIC): The 30-year surplus streak at 15% and an individual medical range Beema lacks, at the cost of an analog buying experience and a 30% wakala fee Alkhaleej Takaful: Richer motor feature ladder with 5-year agency repair and online issuance, but a QAR 29.3M policyholder fund deficit in FY2025 and no surplus paid since 2022 General Takaful: Best disclosed economics (20% wakala) and published medical prices from QAR 420/year, but accumulated pool deficits and thinner product documentation Doha Takaful: Strong motor service benefits inside the A- rated Doha Insurance Group, but no published Shariah governance, fees or surplus data
Are Beema (Damaan Islamic Insurance)'s products more expensive than conventional options?
Halal financing structures can have different fee structures compared to conventional products. Some options may be competitive with conventional rates, while others may have different cost structures. Pricing varies by product type, location, and individual circumstances. Always compare total costs and terms when evaluating options.
How do I contact Beema (Damaan Islamic Insurance)?
Contact information for Beema (Damaan Islamic Insurance) should be available through their website or the product listings above. Use the action links provided with each product to visit Beema (Damaan Islamic Insurance)'s website or contact them directly for more information.
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