TLD Whitepaper
  • Part I: What is The LifeDAO?
    • Introduction
    • Mission
    • Background
      • Islamic finance and insurance
      • Why is conventional insurance not shariah-compliant?
      • Takaful, an Islamic alternative to conventional insurance
        • Takaful vs. Conventional Insurance
        • Takaful in light of the Shariah
    • The LifeDAO: Inspired by Takaful, native to the blockchain
      • Two Funds, Two Entities
      • Risk, Solvency and the Benefit Multiplier
      • Shariah compliance of TLD
    • The Takadao Protocol
      • Takadao’s Technology Stack
      • Takadao Reprotection Pool
  • PART II: The LifeDAO Membership
    • Member Journey
    • The LifeDAO Membership
      • Membership Benefits
      • Membership Privileges
      • Benefit 1: Benefit Payout
      • Benefit 2: Surplus Distribution
      • Benefit 3: Governance Rights
      • Privilege 1: Verifier Incentive Program (VIP)
      • Privilege 2: Contributor Committee
      • Privilege 3: TAKA Token Airdrops
      • Allocation of Membership Contributions
      • Benefits Payout Management
      • Governance and the Contributor Committee
      • Contributor Functions
        • Screen Proposals
        • Endorse and Advocate for Proposals
        • Implement Proposals through Multisig
      • The LifeDAO Investment Pools
        • Investment Conditions
        • Deposit and Withdrawal Mechanisms
        • Governance
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  1. Part I: What is The LifeDAO?
  2. The LifeDAO: Inspired by Takaful, native to the blockchain

Shariah compliance of TLD

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Last updated 8 months ago

TLD is leveraging the power of Web3 to offer a Shariah compliant global platform which revolves around the principle of (mutual assistance) and (voluntary contribution).

With TLD, everyone’s interest is aligned and free from prohibited elements by shariah matters such as Riba (interest), Maisir (gambling), Gharar (uncertainty) and Taghrir (deception).

The model adopted by TLD provides diversification in terms of income and transparency in managing funds. This common model is fully consistent with shariah principles according to which is the most reputable Islamic international autonomous not for profit institution in the field.

Refer to the shariah-paper for a more detailed discussion.

Ta’awun
Tabarru
AAOIFI Standard 26