Al Madina Insurance Company SAOG (commonly known as Al Madina Takaful, ) is an Omani takaful company.
It was founded in 2006 as an insurance company. In 2014, the Capital Market Authority granted Al Madina a takaful license. Al Madina then converted all its insurance business to become Sharia-compliant and became the first takaful company in Oman.
After the conversion, Al Madina acquired a number of companies to expand its operations. In 2014, it invested in a 9.5 percent stake (along with its major shareholder MB Holding) in Abu DhabiâÂÂbased takaful operator Watania for AED 17.9 million.
In 2014, Al Madina had a customer base of 37,000 policyholders.