Dubai Islamic Insurance and Reinsurance Company Aman has entered into a strategic tie up with Amlak Finance to offer a Family Protection Scheme for individuals applying for mortgage financing.
The family protection scheme is an insurance coverage for applicants of mortgage loans at Amlak Finance, and ensures complete payment of their mortgage installments in the event of death or serious disability of the applicant. The scheme thus ensures that in the face of personal loss or injury, the family of the applicant is protected from financial losses regarding new property investments, during the entire term of the mortgage finance agreement.
The new scheme will be applicable to all mortgage finance applicants at Amlak and will also be extended to include existing recipients of mortgage finance loans.
Aman is licensed in Dubai by the Dubai Department of Economic Development to offer a range of insurance and re-insurance products, in compliance with the principles of Islamic Sharia. The last year, the company’s IPO was more than five times oversubscribed. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
