Standard Chartered Bank to market Salama-Islamic

Arab Insurance Company products
05/05/2009 00:00 AST

Standard Chartered Bank UAE has partnered with Salama-Islamic Arab Insurance Company to offer a wide range of comprehensive Takaful solutions offered by Salama. The partnership means that Standard Chartered will now offer Shariah compliant insurance plans catering to a diverse range of financial needs including childrens education, retirement and regular savings plans.

Salama provides all types of cover through its Family Takaful range of products which include unit linked regular savings plans, term and mortgage protection plans, single premium plans and pure protection plan all approved by Salamas independent Shariah board of qualified scholars of international repute.

Commenting on the launch, Afaq Khan, CEO Standard Chartered Saadiq said: This is an exciting opportunity for Standard Chartered to broaden the core range of products we provide to our customers which allows us to participate in the future growth of the countrys Takaful market. The introduction of this product is part of the larger consumer banking commitment that Standard Chartered has to our customers to offer them value-based and solid Shariah compliant financial solutions.

Mr. Noel Francis DMello, GM- Family Takaful at Salama-Islamic Arab Insurance Company in the UAE said, Together with Standard Chartered Bank, we remain committed to meet the consumers needs and provide them with a wide range of insurance and savings solutions, catering and responding to the changing marketplace conditions and the varied customers needs. The Salama Takaful offerings are a new addition to the wealth management product suite distributed by Standard Chartered. Benefits are subject to the terms, conditions and exclusions of the policy issued by Salama.

Saudi Cooperative Insurance Co. - SALAMA
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