Al Salam Bank Expands Takaful Offerings
Al Salam Bank launches new Takaful plans in partnership with Solidarity Bahrain, enhancing its Sharia-compliant insurance solutions.
Summary
Al Salam Bank introduces a comprehensive range of protection and savings plans under 'Al Salam Takaful' in collaboration with Solidarity Bahrain, offering exclusive Takaful offers for clients.
Al Salam Bank, a leading financial institution in the Kingdom of Bahrain, has announced the expansion of its Sharia-compliant insurance offerings through the launch of 'Al Salam Takaful'. In collaboration with Solidarity Bahrain, the bank is introducing a comprehensive range of protection and savings plans aimed at both individual and corporate clients.
The 'Al Salam Takaful' initiative is designed to cater to a wide array of needs, encompassing Motor, Travel, Domestic Helper, Home, Pleasure Craft, and Personal Accident insurance. Additionally, it offers office comprehensive and Group Medical Scheme solutions for businesses and families. As part of a promotional campaign, clients can benefit from up to 28% off when purchasing a new Travel Takaful policy. Furthermore, new clients opening an account through any of the bank's channels will receive a 10% voucher redeemable on a Motor Takaful policy throughout the year.
The introduction of protection and savings plans under 'Al Salam Takaful' aims to provide financial stability and peace of mind to clients. These plans are tailored to help clients prepare for future goals such as children's university education, retirement, or financial support during medical emergencies, thereby alleviating financial stress and ensuring long-term security.
Mr. Mohammed Buhijji, Head of Retail Banking at Al Salam Bank, commented on the launch, stating, 'At Al Salam Bank, our clients' evolving needs remain our top priority. We are proud to further enhance our 'Al Salam Takaful' offering through the launch of protection and savings plans that are flexible, comprehensive, and tailored to provide peace of mind. We continue to position ourselves as a one-stop shop for both banking and Takaful solutions under one roof.'
Al Salam Bank's move to broaden its Takaful offerings is a strategic step to solidify its position in the Islamic banking sector. By providing seamless Takaful options through its branches, self-service kiosks, and mobile application, the bank is ensuring easy and instant policy issuance, thereby enhancing customer experience.
In conclusion, Al Salam Bank's expansion into the Takaful market is a positive development that aligns with its digital-first mindset and commitment to customer-centric solutions. For investors, the bank's robust strategy and innovative offerings suggest a 'hold' position, as it continues to strengthen its market presence and deliver value to its clients.
Source
Summary
Al Salam Bank has launched a range of protection and savings plans under its Sharia-compliant "Al Salam Takaful" in partnership with Solidarity Bahrain. The initiative includes a promotional campaign with exclusive Takaful offers, such as up to 28% off on new Travel Takaful policies and a 10% voucher for Motor Takaful policies for new clients. The Takaful offerings cover various insurance solutions for individuals and businesses, including Motor, Travel, Home, and Personal Accident insurance, as well as group medical schemes. The protection and savings plans aim to provide financial stability and help clients prepare for future goals like education, retirement, and medical emergencies. The bank emphasizes its commitment to addressing clients' needs and offers these services through branches, kiosks, and a mobile app. For more details, clients are encouraged to visit the bank's website or contact them via WhatsApp.
