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UAE – Ajman Bank today announced it’s signing of joint cooperation with Takaful Emarat Insurance (PSC), the DFM-listed, Shariah-compliant Life and Health Takaful provider. The two sides shall work to conclude a new implementing joint cooperation agreement involving Takaful Emirates provision of insurance services to the clients of Ajman Bank that will foster the development of projects and activities in banking and insurance through this joint venture.
The signing ceremony was witnessed by HE Mohammad Amiri, CEO of Ajman Bank and Mr Wael Al-Sharif, CEO of Takaful Emarat. Under the agreement, Takaful Emarat will provide Shariah- compliant life and health insurance to the clients of Ajman Bank.
H.E. Mohamed Amiri, Chief Executive Officer, Ajman Bank, said, “Our vision is to be the preferred banking partner pioneering in our times, and as we all know that in light of the nature of escalation of the competition, the important complementary role is to develop partnership between financial institutions.”
He added, “This joint agreement in cooperation with ‘Takaful Emarat’ is a true reflection of our focus and efforts to enhance the development of the banking insurance system and provision of reciprocal system complementarily between the two sides of banking products and insurance services, and support the work of Takaful UAE through banking channels by providing access to a wider segment of customers in order to leverage the fundamental pillar of the Islamic banking and Insurance".
H.E. Mohamed Amiri, further stated, “The agreement also entitles bank's customers insurance and banking products from the same source through Ajman Bank.”
Mr. Wael Al-Sharif, CEO at Takaful Emarat stressed that, “I am delighted to sign this strategic partnership with Ajman Bank as this unfolds a new horizon that provides the Bank’s customers with Shariah compliant insurance services across the country, reinforcing our commitment to being at the forefront of the Takaful sector in the Gulf.
This relationship will act as a benchmark of quality and service for Takaful industry. It would also help Takaful Emarat to achieve its mission of providing Takaful to everyone. We are proud to partner with Ajman Bank, and we are confident that Ajman Bank, being one of the fastest growing banks in the UAE, will help promote awareness & distribution of Takaful across the country.”
It is worth mentioning that the joint cooperation agreement comes within the framework of integration between banking and Takaful insurance companies in the implementation of new marketing strategies aimed at developing bancassurance activities through Islamic banks and economic institutions, to keep pace with the latest global financial and economic environment variables.
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About Ajman Bank:
Islamic bank with an ambitious vision, built on integrity, trust and transparency values, seeks to provide a wide range of Shariah compliant and high quality banking services to customers from individuals, companies and government institutions at the state level. It is also keen to be updated with latest technology that will ensure customers a distinctive experimental banking with the revival of human touch that is lost in the modern era of banking application.
Ajman Bank, based in the emirates’ of Ajman has strong support from the government, which is a fundamental pillar in the economic development of the emirate's strategy. The bank continues its tireless efforts to become an Islamic banking institution sustainable in every sense of the word, with an emphasis on the need to achieve an optimal balance in the community and caring staff, in order to provide real value for shareholders and customers alike.
About Takaful Emarat:
Takaful Emarat Insurance PSC, established in 2008, is one of the leading Sharia -Compliant Life and Health Takaful Providers in UAE. Takaful Emarat market a wide range of individual and corporate life and health Takaful products including protection, savings and unit linked plans, as well as health, life and pensions through variety of distribution channels. Takaful Emarat is also one of the two Takaful providers qualified as Participating Insurer by Dubai Health Authority to provide basic mandatory health insurance in the Emirate of Dubai.
Media Contacts:
FTI Consulting
Shane Dolan; shane.dolan@fticonsulting.com
Aashti Bawa; Aashti.bawa@fticonsulting.com
Phone: +971 4 437 2100
© Press Release 2016
