CLIMBS Life and General Insurance Cooperative proudly marks a significant milestone in its journey toward inclusive financial protection. We are honored to announce that CLIMBS has been officially certified by the Insurance Commission to offer Takaful Insurance in the Philippines.
The formal certification was received during a ceremonial turnover attended by our President & CEO, Noel Raboy, together with the CLIMBS Board of Directors and some members of the top management. The event was also graced by representatives from the Cooperative Development Authority (CDA), led by Undersecretary Alexander Raquepo, Chair of the CDA, and Assistant Secretary Luz Yringco, underscoring the importance of this achievement within the cooperative and regulatory landscape.
Expanding Protection Through Takaful
This certification authorizes CLIMBS to provide Shariah-compliant insurance solutions designed to meet the financial protection needs of our Muslim brothers and sisters, who comprise approximately 6โ11% of the Philippine population.
Takaful, rooted in the principles of mutual cooperation, shared responsibility, and ethical finance, aligns naturally with the cooperative values that CLIMBS has upheld for decades. By offering Takaful, we are strengthening our commitment to inclusivity โ ensuring that financial protection is accessible, culturally appropriate, and aligned with the beliefs of the communities we serve.
Supporting the Philippine Halal Industry
The introduction of Takaful insurance also plays a vital role in supporting the growth of the Philippine Halal Industry, which spans agriculture, trade, finance, and investments. As this sector continues to expand both domestically and globally, the availability of Shariah-compliant financial services becomes increasingly essential.
Through this certification, CLIMBS contributes to building a more robust and inclusive economic ecosystem โ one that empowers communities, supports enterprise development, and enhances financial resilience.
A Collective Achievement
We extend our sincere gratitude to the Insurance Commission and the Cooperative Development Authority for their trust and recognition. We also commend our dedicated team whose hard work, vision, and commitment made this milestone possible.
This achievement is more than a regulatory approval โ it represents progress toward a more inclusive financial future.
Together, we continue to move forward in our mission of providing accessible, ethical, and cooperative-driven insurance solutions โ ensuring that every Filipino, regardless of background or belief, has access to financial security and peace of mind.