Please advise as to the status of Takafol in South Africa. Refer to www.takafol.co.za Is this totally halaal?

At the outset, we would like to say that there are many financial products in the pipeline attempting to provide Shari?ah compliant alternatives to many of the Haraam transactions in vogue today. We fully support these initiatives and encourage those involved to fill this gap in our society. However, our primary concern is that these alternatives should, in reality, be Shari?ah compliant, and not jus the ?old wine in a new bottle?.%0D%0A%0D%0AComing to the question of Takaful SA, a senior representative of the company had approached the Darul Ifta, and had a meeting with us. He gave us an overview of his proposed product, and we presented some reasons why we did not feel that it comforms to the Shari?ah. The next thing we heard was that the product has been launched. If it is the same product that had been described to us, we would have to say that we are not satisfied that it is Halaal. If however the product has undergone changes, we would certainly be prepared to look into the matter.%0D%0A%0D%0AWe have written to the company in this regard. Please find attached below a copy of the contents of our letter. We await their response.%0D%0A%0D%0Aand Allah Ta'ala Knows Best%0D%0A%0D%0AMoulana Imraan Vawda%0D%0AFATWA DEPT.%0D%0A%0D%0Achecked & approved: MUFTI EBRAHIM DESAI%0D%0A%0D%0AThe Manager%0D%0ATakaful SA%0D%0A%0D%0AWe have received a number of queries regarding your recently launched product, for example, question 11454 on the ask-imam.com%0D%0A%0D%0AAs you are well aware, during our last meeting, we had stated that the product presented to us does not, in our opinion, conform to the Shari?ah. If the product has changed from then, we would certainly like to study the new product so that we may study it and advise the public accordingly.%0D%0A%0D%0AWe would appreciate if you could provide us all relevant documents on the issue, which would be kept in confidentiality.%0D%0A%0D%0ALooking forward to your urgent response.%0D%0A%0D%0Aand Allah Ta'ala Knows Best%0D%0A%0D%0AMufti Ebrahim Desai%0D%0AFATWA DEPT.%0D%0A