UAE: Shariah-compliant investment firm to offer takaful
Source: Middle East Insurance Review | Oct 2015
Shariah-compliant savings and investment company, National Bonds Corporation, plans to offer Islamic insurance by October to its 800,000 clients in the UAE.
The company is working with insurers to market takaful products which would cover situations such as death, permanent and terminal disability, terminal illness, hospital cash benefits, critical illness and involuntary job loss cover, CEO Mohammad Qasim Al Ali told Gulf News in an interview.
“We have managed to negotiate a very good deal with third-party insurance companies,” he added.
National Bonds, which manages funds totalling AED5.8 billion (US$1.58 billion), places priority on educating the public about savings, including their medium- and long-term financial goals and the need for emergency funds.
AED1 = US$0.27