Mashreq partners with SALAMA to offer a unique savings plan

Mashreq, a leading financial institution in the UAE, has introduced a unique savings plan which comprehensively meets the ongoing multiple savings needs of individuals and families in the UAE and helps them plan for the future. 

In partnership with SALAMA – Islamic Arab Insurance Company, the Sharia’h compliant savings plan, Idikhar Plus, provides an exclusive platform that helps customers plan for future financial goals  while protecting what is important and ensuring regular savings are backed by continuous growth. 

Idikhar Plus provides customized solutions based on Plan holders’ life circumstances where they can decide how long they want to save, how much, how often, with what level of protection along with the flexibility to make changes to the plan as their life circumstances change. 

Plan holders are also given the option of saving in currency of their choice with a wide range of funds to choose from. Alternatively the Plan holder may decide to select from any of the three investment strategies provided by SALAMA which include conservative, balanced, and aggressive strategy. 

Commenting on this, Tooran Asif, Head of Personal Banking, UAE, Qatar, Egypt, Mashreq said, “Most people are interested to save and yet find it difficult to manage their savings on a regular basis. This plan is designed to help customers manage their savings better. Idikhar Plus Savings Plan is another step in our endeavor to offer better financial solutions and Mashreq is glad to offer to the UAE residents for the very first time, a perfect blend of savings, protection and growth all bundled in one.” 

Idikhar Plus Plan boosts customer’s saving on the very first day of the Plan by allowing them to earn upfront Bonus Allocation and continues adding loyalty bonuses to their savings after the third year. 

The savings plan offers tremendous benefits such as Family Takaful Benefit, Upfront bonus allocation to boost your saving, Loyalty Bonus, Investment Choice and list of Additional Optional Benefits to choose from. 

Noel D’Mello, General Manager, SALAMA Family Takaful added, “SALAMA constantly strives to offer the most competitive savings and protection plans within the UAE - Idikhar Plus is another example of this. With generous upfront bonus allocation, clients can benefit from enhanced account values from day one. The product also offers flexibilities to the long term investor as we recognize that financial circumstances do change over time. This Sharia’h compliant savings Plan with rewarding benefits is suitable for both Islamic and Non-Islamic investors who are interested in adding more value to their regular savings”.