In its continued efforts to provide new and innovative Shariah compliant TAKAFUL products to its valued costumers, Dubai Islamic Insurance and Reinsurance Company, AMAN, announced that they have expanded their existing cooperation agreement with Munich based FWU Group to offer investment oriented Life Takaful Products in the United Arab Emirates, primarily through bank distribution partners.
The product and the supporting system are flexible and are designed to allow the partner banks to offer tailor made private label Takaful policies. The bank distribution partners together with FWU and AMAN shall define their own specific investment platform.
Commenting on the extension of the agreement Mr. Hussein Mohammad Al Meeza, Managing Director of AMAN, said “As a National Islamic Takaful Insurance Company, AMAN is devoted to providing its clients with innovative and comprehensive Islamic insurance services, that enhance the stability and well being of local and regional communities. We are very happy to have signed the extension of the agreement with FWU, because of their product knowledge as well as their sophisticated systems offering enormous potential for our Takaful approach.”
“We are proud to be associated with Aman being the most prominent insurance Takaful Company in the UAE and to offer this unique Life Takaful Product”, said Dr. Manfred J. Dirrheimer Chairman of the FWU Group. “This is a great step forward and we are very optimistic that the bank distribution channels for Life Takaful Products will soon be well established in the Middle East”, he added.
According to the terms of the extended cooperation agreement, the FWU Group will provide specific product ingredients and offer an advanced technological system, which will enable the bank distributors to deliver policy documents, and attend to policy servicing on line. FWU’s regional headquarter in Dubai is the appointed marketing managers for the bank distribution channels for Aman for this product.
Summary about Aman :
Aman, Dubai’s Islamic Insurance and reinsurance company, is a national public company which was established in the second quarter of 2002.Several groups of investors have a stake in Aman, including The Investment Office, Dubai Islamic Bank, and retail investors. The company provides Islamic insurance services.
