Super Savings and Super Child Education plans in partnership with Medgulf Allianz Takaful

January 15th, 2012, Manama, Bahrain: Bahraini retail and commercial banking institution, BMI Bank together with leading regional insurer Medgulf Allianz Takaful today announced the roll out of two new series of long term bancassurance products, offering customers the opportunity to plan and invest in securing a better future for themselves and for their families.

Announcing the launch of the two new Sharia-compliant products, Jamal Al-Hazeem, Chief Executive Officer of BMI Bank said:

"In line with our commitment towards enhancing our customers' banking experience as well as providing them with a one stop shop catering to all their financial needs, I am pleased to roll out our first series of bankassurance products that will be available to both Bahrainis and expatriates across our network. Both, the Super Savings as well as the Super Child Education plans have been designed to offer a simple, cost effective and relevant insurance product to customers and will be followed by other life and non-life insurance products from Medgulf Allianz Takaful shortly.

Equipped with a strong network of 10 branches and 30 ATMs, a state-of-the-art banking system and a commitment to better serve our customers, we have truly transformed the way we have been operating within Bahrain and we will continue to deliver on our promise of providing truly, innovative financial solutions that match and exceed our customers' financial needs and expectations."

The Super Savings plan, an investment plan designed to shape and manage ones future financial stability along with the Super Child Education plan, designed to help parents in securing their children's futures will be available to customers through qualified and experienced professionals from Medgulf Allianz Takaful present across the Bank's network of branches in Bahrain.

Some of the salient features of the products include an option to choose the currency and investments, payment frequency, reduce or stop payments after investing a substantial amount and access to savings at all times. Bancassurance is a term used to describe the partnership or relationship between a Bank and an insurance company whereby the insurance company uses the Bank's various customer channels in order to sell insurance products.

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About BMI Bank B.S.C. (c)
Bahraini retail and commercial banking institution, BMI Bank is a retail bank, registered in Bahrain and regulated by the Central Bank of Bahrain offering a full range of retail and commercial banking services. BMI Bank operates in Bahrain through a network of 10 branches and 30 ATMs with net banking for easy access to services.

BMI Bank also operates an Offshore Bank in the Seychelles, a branch in Qatar and has a 21.33% shareholding in Gulf African Bank in Kenya. BMI Bank owns the Diners Club Services Bahrain W.L.L and operates the Diners Club cards franchise in Bahrain. BMI Bank's shareholders include some of the strongest and most respected financial institutions across the GCC, including BankMuscat.

BMI Bank currently offers its customers a range of retail products and services including savings and current accounts, Ayadi savings account, 8, credit cards including Diners Club and La Carte, a co-branded credit card in partnership with Geant Hypermarket Bahrain, consumer and vehicle loans, mortgages and fixed deposits. In addition to Retail Banking, BMI Bank offers full Premier Banking, Private Banking, Wholesale Banking, Islamic Banking and Treasury services.

For further information, please contact:
Gordon Andrade
Head, Corporate Communications
BMI Bank - Bahrain
E-mail: gordon.andrade@bmibank.com
Cell: +97339782225

About Medgulf Allianz Takaful B.S.C. (c)
Medgulf Allianz Takaful BSC (c) is a joint venture company between Medgulf B.S.C. (c), a leading regional insurer and the Allianz Group, one of the leading integrated financial services providers worldwide. Medgulf Allianz Takaful is headquartered in the Kingdom of Bahrain and is the shareholders' global hub for innovative Takaful services. Under Family Takaful, Medgulf Allianz Takaful makes available solutions for life and health protection, savings, retirement and child education plans, along with various riders. Under General Takaful, Medgulf Allianz Takaful offers a wide range of Takaful non-life products including motor, household, marine and engineering for retail and corporate customers.

The Company taps into the strengths of its shareholders to provide the most innovative solutions for clients. Medgulf Allianz Takaful works with a vision to become the most trusted provider of Islamic Financial Solutions which are highly recommended by customers and investors. In order to ensure this, Medgulf Allianz Takaful has established its own Shariah Supervisory Board (with renowned Shariah Scholars Shaikh Nidham Yacouby as Chairman; and Shaikh Ossama Bahr and Dr. Mohamed Arbouna as members) to vet on all aspects of the company's products and operations.

For further information, please contact:
Shyam Sankar
Head - Bancassurance, Brokerage and MarCom; Medgulf Allianz Takaful
E-mail: shyam.sankar@allianz.com.bh
Cell: +97317568280

© Press Release 2012