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Al Hilal Takaful, the Islamic insurance subsidiary of Ahli United Bank with operations in Bahrain and Kuwait, has appointed Emirates NBD Asset Management, the Dubai-based asset manager, to manage three risk-graded Shari’a compliant investment strategies on Al Hilal Takaful’s behalf.
The appointment will broaden Al Hilal Takaful’s access to global Sukuk, global equity, Mena equity and other emerging market opportunities, a statement said.
Emanuel Lantzos, chief executive officer of Al Hilal Takaful, said: “We are motivated and inspired by opportunities that help our customers achieve their personal and family financial goals. This appointment is one such opportunity to generate consistent, positive returns for our clients over the long run, thanks to this multi-asset, multi-strategy link-up with Emirates NBD Asset Management, which offers one of the broadest range of Sharia’ compliant fund managers in the region. We look forward to working closely with them for the benefit of our customers.”
Salman Bajwa, senior executive officer of Emirates NBD Asset Management, said: “We’re pleased to be working with Al Hilal Takaful, a leading family Takaful provider in the region. Their decision to appoint Emirates NBD Asset Management to manage these three strategies is a clear testament to the quality and range of our Shari’a funds, which we’ve worked hard to grow and develop in recent years. I’m pleased to say that their low-risk mandate will be run by the same fixed income team that manages the award-winning Emirates Global Sukuk Fund.”
Al Hilal Takaful’s policies will be linked to three investment strategies, categorised as ‘Conservative’, ‘Balanced’ and ‘Growth’. The conservative strategy is a Sukuk-focused mandate, while the Balanced and Growth strategies will access global Sukuk, global and Mena equities and emerging markets.
Al Hilal Takaful is the Sharia’-compliant arm of Al Hilal Life, originally established in 2009 as a joint venture between Legal & General Group and Ahli United Bank before becoming a 100 per cent owned subsidiary of AUB in October 2015.
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