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Noor Takaful Honoured as 'Best Takaful Operator' for 2009 at 4th Islamic Business and Finance Awards

Noor Takaful , the Islamic insurance arm of Noor Investment Group , today announced it was named the 'Best Takaful Operator' for 2009 at the prestigious 4th Islamic Business and Finance Awards.

The key industry recognition, won within just 11 months since its inception, was presented to Dr. Ahmed Al Janahi, Deputy Group CEO, Noor Investment Group and Managing Director, Noor Takaful , at a gala ceremony in Dubai on December 14.

An independent panel of judges comprising agencies, consultancies, solution providers and industry peers, meticulously scrutinized the overwhelming nominations for all the categories, before short listing those organizations that have adopted the best Islamic finance practices. Thousands of readers of Islamic Business & Finance then cast their votes to select the winners from more than 200 nominated institutions.

Its unique products and services came in for special mention by the judges as the key reasons for the Islamic insurer's significant milestones achieved in less than a year.

Earlier in November, Noor Takaful launched the GCC's first online takaful service offering instant quotes, online payments and doorstep delivery, demonstrating its resolve to become the leading provider of convenient and innovative Islamic insurance products and services.

Hussain Al Qemzi, Group CEO, Noor Investment Group , said: "This industry award is a testament to the hard work and dedication of the Noor Takaful team. Our range of innovative products and channels, coupled with our excellent service standards have certainly paid off within a short span."

Dr. Ahmed Al Janahi, Managing Director, Noor Takaful , said: "It is indeed noteworthy that our relentless efforts to be at the epicentre of true customer care, on par with the leading insurance brands of the world, has been recognized. The potential of insurance and takaful in this region remains high and Noor Takaful is committed to playing a leading role in safeguarding customers' future, the way it has to be done."

Parvaiz Siddiq, CEO, Noor Takaful said: "We are delighted the industry has recognized what our products, efforts and brand equity mean to our customers, and the industry at large. Since the launch of Noor Takaful , we have pledged to constantly innovate and raise the bar in the regional takaful market. Our success stems from the expertise and enthusiasm of our employees, and their ability to maximize organic growth, through transparency and high levels of customer service."

Noor Takaful was launched in January 2009, following Noor Investment Group 's realization of untapped opportunities for insurance and takaful products in the GCC region and beyond. The GCC Islamic insurance sector is anticipated to grow at a rate of around 20-25 per cent per annum, according to independent industry statistics.

Headquartered in Dubai Noor Takaful Family PJSC and Noor Takaful General PJSC have a combined paid-up capital of AED150 million. They operate initially from four locations across the Emirates of Abu Dhabi, Dubai and Sharjah, offering a comprehensive suite of general and family takaful coverage for individuals, businesses and corporate clients. The insurer aims to eventually expand the reach of these operations to cover the Middle East and North African region.

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About Noor Takaful
Noor Takaful is the Sharia'a compliant insurance brand of Noor Investment Group LLC. Through its 2 entities Noor Takaful Family PJSC and Noor Takaful General PJSC, it offers a broad range of Sharia'a compliant general and family takaful products. Noor Takaful 's business model is founded on the Sharia'a principle of wakalah. Noor Takaful administers the process of participation, manages collection of the takaful contribution and processes the claims according to the contract agreed with the participants. In addition, Noor Takaful will also act as a trustee for investing funds in Sharia'a compliant structures to generate returns on the contribution paid. Noor Takaful aims to set new standards in the region's booming takaful industry with a focus on service innovation. Noor Takaful 's products and services are governed by a Sharia'a supervisory board comprising of well-known Islamic scholars. For more information, please visit: www.noortakaful.com

For media enquiries, please contact:
Mohamed Tahboub
Senior Account Manager, Financial Practice
Jiwin Public Relations
Tel: +9714 3613598
Mob: +97150 157 6868
Email: mohamed.tahboub@jiwin.ae

© Press Release 2009