May 09 2011 |
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UBL launches new bancassurance product
By Staff Report DUBAI - United Bank Limited , or UBL , which has completed 43 years of operations in the UAE, on Sunday announced the launch of its bancassurance product under the brand name UBL Baraka.The launch of this new activity is in line with the bank's strategy to introduce new, innovative and competitive products that appeal to the various segments of its customer base in the UAE.
In the initial phase of the launch, UBL will offer Shariah-compliant insurance products through Noor Takaful, the Islamic insurance arm of Noor Investment Group , to Emiratis and expatriates based in the UAE.
A formal signing ceremony took place between UBL and Noor Takaful at the UBL International offices. UBL Head of International Wajahat Husain and Noor Takaful Chief Executive Officer Parvaiz Siddiq, along with senior executives from both companies, were present at the ceremony.
UBL was the second foreign bank to start operations in the UAE, starting with a branch in Abu Dhabi in July 1967. Aside from the UAE, the bank also has a presence in major centres across the globe, including Bahrain, Qatar, Yemen, the US, the UK, Switzerland, Oman, China, Iran, Kazakhstan and Pakistan.
"I am confident both companies will jointly pass on substantial benefits to customers, in terms of cost effective products and a technologically advanced service," Siddiq said.
Noor Takaful was recently honoured with the Dubai Quality Appreciation Programme by the Dubai Department of Economic Development for shaping a world-class corporate infrastructure and platform, excelling in customer and community relations.
© Khaleej Times 2011
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