Date: Aug 24, 2020

The UAE’s second-largest Islamic insurance entity, Noor Takaful (a Dar Al Takaful company), has entered a strategic partnership with Ajman Bank that adds an array of world-class solutions to Ajman Bank’s portfolio, ensuring their customers’ genuine Takaful requirements are met. Customers that have financial commitments will now have access to a comprehensive range of Takaful savings solutions for children’s education, marriage and retirement. They will be offered assurance of their family’s financial protection in case of unforeseen events. Businesses and their employees will also receive life insurance solutions as part of the agreement in order to improve overall customer satisfaction and retention rates.

Rajesh Sethi, CEO, Noor Takaful emphasized that this partnership is a powerful combination of like-minded, ambitious businesses. He pointed out that the UAE constitutes the largest life insurance market within the GCC, receiving total gross premiums of US $8 Billion, therefore distributing Takaful Solutions within the bank network accelerates the industry development and contributes to its economic growth. Mohamed Amiri, CEO, Ajman Bank expressed his delight in collaborating with Noor Takaful to provide customized solutions catered to the evolving needs of Ajman Bank customers. The alliance combines the expertise of Noor Takaful with the extensive network of Ajman Bank which allows for a competitive edge in the market by offering the best integrated and efficient solutions of greater value to participants.

The partnership will increase the reach of Life Takaful protection, savings and investment products across Ajman Bank’s diverse segments (Wealth, Small and Medium Enterprises and Retail). Both the new and existing customer database across each product category will have access to the new line of offerings as a result of the partnership. Ajman Bank will operate with Islamic insurance trained professionals who are qualified in guiding customers through the process of Takaful Solutions. Established in 2009, Noor Takaful has a range of innovative products and services for its customers, including Motor Takaful, Medical Takaful, Travel Takaful, Commercial Takaful and Personal Takaful with instant quotes and online payment facilities.