Shari'ah compliant medical scheme

Discovery Health Medical Scheme has introduced the first Shari’ah compliant medical scheme arrangement in South Africa following extensive collaboration and expert guidance from leading Islamic scholars. We caught up with Farzana Baba, Head of Health Product Development at Discovery to find out more.

A few points of discussion:

• Details about DHMS introducing the first Shari’ah compliant medical scheme arrangement in South Africa
• About Shari’ah Advisory Committee
• How members can sign-up
• When will the product be available?
• What does this arrangement mean for the Muslim Community?
• Why did DHMS deem it important to offer this arrangement?
• Does this arrangement impact member benefits in any way?

A few key point made:

• When we looked at the landscape of Shari'ah compliant products we saw that there was a gap and a need in the market
• It is set up in such a way that discovery members that have Shari'ah added will have the certainty that it is managed in a compliant manner and that they won't have any changes to any of the benefits or the contributions that they pay.
• It is important to create products that are inclusive and this is a progressive move forward for the industry.
• Medical schemes are already set up in a way that aligns with the Takaful principles.