| 02 Jan 2010 |
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Dubai Islamic Bank launches Al Islami Takaful Riayati
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Comprehensive accidental disability and fatality insurance offers range of benefits
Low annual premium brings coverage within reach of everyone
Latest innovative product from Dubai Islamic Bank
(DIBDIB) announced today the launch of Al Islami Takaful Riayati, a comprehensive accidental death and disability insurance plan offered at a very affordable annual premium. This innovative Sharia-compliant product is underwritten by SALAMA-Islamic Arab Insurance Company, and complements the bank's existing portfolio of diverse products and services.Al Islami Takaful Riayati offers peace of mind to individuals and families by providing significant benefits in the unfortunate event of accidental death or disability. With annual contributions payable at just AED 250 for an individual, and AED 400 for a plan holder plus spouse, this unique programme is within everyone's reach.
The coverage offered by Al Islami Takaful Riayati includes family takaful benefit of AED 100,000 in the event of accidental death, or permanent total or partial disability caused by an accident. Additionally, plan holders are eligible for weekly benefits in the unfortunate event of temporary total disability due to an accident, as well as the reimbursement of medical expenses, including hospital stays and repatriation/transportation of the body .
"The importance of the peace of mind that comes with having arranged some security for family in the case of unforeseen events cannot be undermined. We are very pleased that the Al Islami Takaful Riayati product provides just that - peace of mind at a price that is easily affordable," said Dr. Adnan Chilwan, Chief of Retail and Business Banking, Dubai Islamic BankDubai Islamic Bank. "Al Islami Takaful Riayati has been designed keeping everyone in mind. Therefore, it is not only affordable, but also extremely simple and convenient. Customers can walk into any DIBDIB branch and walk out with their policy and the peace of mind that they are instantaneously covered - it is that simple!
"Takaful programmes are based on the Islamic principles of cooperation and shared responsibility, reflecting the underlying values of DIBDIB, the world's first Islamic bank", Chilwan added. "We encourage all our customers to avail of Al Islami Takaful Riayati, so that they can benefit from the peace of mind that comes with a sense of security for loved ones."
About Dubai Islamic BankDubai Islamic Bank:
Dubai Islamic BankDubai Islamic Bank (DIBDIB), established in 1975, is the first Islamic bank to have incorporated the principles of Islam in all its practices and is the largest Islamic bank in the UAE. DIBDIB is a public joint stock company, and its shares are listed on the Dubai Financial Market. The bank enjoys a reputation as a leader and innovator in maintaining the quality, flexibility and accessibility of its products and services.
The bank currently operates 61 branches in the UAE. As part of its expansion plans announced in early 2009 and in line with its aim to ensure customer satisfaction through accessibility, DIBDIB will increase its nationwide network to 64 branches by the end of this year. In addition to regular, full-service branches, DIBDIB is also planning to launch Express Banking Centres, which will provide fast, efficient services to DIBDIB customers at various convenient locations like shopping malls, hypermarkets and megastores
By the end of 2009, DIBDIB forecasts that the bank's total customer base will increase by approximately 15 per cent, reaching some 900,000 customers, while its retail assets business will grow by approximately 20 per cent.
DIBDIB has been proactive in creating partnerships and alliances at both the local and international level. The bank has established DIBDIB Pakistan Limited, a wholly owned subsidiary. DIBDIB has also opened its first representative office in Turkey to enhance its access to that market. DIBDIB has also acquired a stake in Al Khartoum Bank and in Emirates and Sudan Bank, as well as contributing to the launch of Jordan Dubai Islamic BankDubai Islamic Bank.
DIBDIB has won the respect of its peers around the world for many years, and its leading position has been reaffirmed by the 34 awards that it has won in 2008 across diversified areas within banking, be it retail, corporate or investment banking. The bank was recently named "Best Islamic Bank" for the 4th consecutive year by Banker Middle East magazine. DIBDIB has also received many awards from international organisations, such as the prestigious "Bank of the Year" award from The Banker (Financial Times), along with prestigious accolades from UK-based Euromoney and NY-based Global Finance magazines.
For further information, please contact:
Nicholas Nesson / Ghaleb Zeidan / Gunjan Chaurasia
ASDA'A Burson-Marsteller
Dubai, UAE
Tel: 971-4-3355969
Fax: 971-4-3356080
E-mail: n.nesson@asdaa.com / g.zeidan@asdaa.com / g.chaurasia@asdaa.com
© Press Release 2010
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