Noor Takaful Signs Banca Takaful Agreement With Ajman Bank

Noor Takaful, the Islamic insurance arm of Noor Investment Group, has signed a Banca Takaful agreement with Ajman Bank, for the distribution of its innovative Sharia-compliant financial solutions to the bank’s customers.

Under the terms of the agreement, Ajman Bank will offer Noor Takaful’s range of protection, savings and investment products through multiple channels to its retail customer base. Ajman Bank will market Noor Takaful’s Shari’a Compliant EduCare, LifeCare, Pure Protection and Smart Save plans.

Dr Ahmed Aljanahi, Managing Director of Noor Takaful, said: “This partnership with Ajman Bank will broaden our product footprint across the country, reinforcing our commitment to being at the forefront of the Takaful sector in the Middle East. Being both globally portable and affordable, we are confident our products will have a strong appeal to the customer base of Ajman Bank. We look forward to a long-term productive relationship with Ajman Bank.”

Commenting on this agreement, Salem Al Shamsi, Group Head of Retail Banking in Ajman Bank said: “We are so pleased to get united with Noor Takaful through this agreement; such partnership assures Ajman Bank’s commitment towards creating variable, convenient and Shari’a-compliant channels to suite its customers’ day-to-day requirements.

By signing this agreement, we will be providing our customers, throughout Noor Takaful, with financial solutions and facilities such as education, medical etc., that are 100% compatible with Shari’a.”

The four products will offer Ajman Bank’s customers greater convenience and a range of innovative solutions. Noor ‘EduCare’ is an investment-linked plan designed to help customers invest and save money on a regular basis in order to meet their children’s higher education expenses. ‘LifeCare’ provides Takaful cover for life to financially protect loved ones for the customer’s entire lifetime. Noor ‘Pure Protection Plan’ gives customers the opportunity to safeguard the family’s well-being should an unexpected death occur. Finally, Noor ‘Smart Save’ assists customers in investing and saving their money on a regular basis to meet future financial needs.

Emirate:  Ajman

Date: Mar 25, 2015

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