Further reinforcing its position as the leading distributor of Takaful products in the UAE, Dubai Islamic Bank (DIB) announced today that it has been named the “Best Takaful Distributor in the UAE” for the second quarter of 2010.
The award was recently presented to the bank by Germany’s FWU AG, a global leader in Takaful product development, in recognition of the exceptional performance of the Al Islami Takaful Savings Programme.
Launched in 2009, the Al Islami Takaful Programme is part of DIB’s comprehensive suite of Sharia-compliant banking solutions. This programme combines savings and investment plans with personal Takaful protection, creating a unique product that offers two key benefits – savings and protection – within the same plan.
“In a year that has proven to be challenging for all businesses, we are proud of our continued success of the Al Islami Takaful Savings Programme. Since launch in 2009, the Programme has proved to be extremely popular amongst DIB customers,” said Dr. Adnan Chilwan, Chief of Retail and Business Banking, Dubai Islamic Bank. “Our extensive branch network and professional customer service across the UAE have been instrumental in achieving this phenomenal performance. The success of the Takaful Savings Programme despite turbulent times, has led us to launch a number of new and innovative Takaful products to suit the varied needs of our customers.”
The Al Islami Takaful Programme offers a range of investment options to suit different risk profiles, with flexible payment options – from monthly contributions to one-time lump-sum contributions – and flexible maturity periods. Depending on their age, customers can choose a plan term from 7-30 years (for regular savings) and 3-30 years (for lump-sum investments). The product also offers the flexibility to increase or decrease contributions and make partial withdrawals at any time during the term.