Al Masraf has tied up with with Sukoon Insurance and Sukoon Takaful to offer customers access to a broader range of protection and insurance solutions.
The partnership was formalised during a signing ceremony attended by senior leaders from Al Masraf, Sukoon Insurance and Sukoon Takaful.
Under the partnership, Sukoon Insurance and Sukoon Takaful will join hands with Al Masraf, enabling the bank to offer customers access to a range of insurance and takaful solutions designed to meet the evolving protection needs of individuals and businesses.
Ecosystem of trusted partners
Fuad Mohamed, Chief Executive Officer of Al Masraf, said: “Our partnership with Sukoon Insurance and Sukoon Takaful reflects our commitment to building an ecosystem of trusted partners that enables us to offer our customers more complete financial solutions.”
He continued: “Insurance and protection are an important part of long-term financial wellbeing, and through this collaboration, we are bringing together the strengths of leading organisations to provide greater choice and convenience to our customers. We look forward to building a strong and successful partnership with Sukoon as we continue to enhance the overall customer experience at Al Masraf.”
Greater choice
Ahmad Yousuf, Chief Retail Banking Officer of Al Masraf, said: “This partnership is an important step in bringing greater choice and convenience to our customers by making relevant insurance and takaful solutions more accessible through their strategic relationship.”
He added: “Sukoon’s strong market expertise and customer-focused approach make them a valuable partner for Al Masraf, and we look forward to working closely together to deliver solutions that are simple, relevant, and aligned with our customers' needs.”
Hammad Khan, Interim CEO and Chief Financial Officer at Sukoon Insurance, said, "We are pleased to partner with Al Masraf as this collaboration reflects our shared commitment to help customers access protection solutions through convenient and trusted channels. By combining Al Masraf's strong customer relationships and banking expertise with Sukoon's insurance capabilities, we aim to deliver greater value, broader choice and an enhanced customer experience for individuals and businesses across the UAE."
Shariah-compliant solutions
He added, “Alongside Sukoon Insurance's product offering, our subsidiary Sukoon Takaful will provide Shariah-compliant takaful solutions to Al Masraf customers, enabling us to deliver a comprehensive suite of protection solutions tailored to different customer preferences and needs.”
Ahmed Abushanab, Chief Executive Officer of Sukoon Takaful, said: “Partnering with Al Masraf is an important opportunity to bring accessible Sharia-compliant Takaful solutions to more customers. As Al Masraf marks 50 years of serving its customers, we are pleased to join them during this significant milestone as we build a partnership focused on providing relevant protection solutions that support customers’ financial needs and offer greater peace of mind.”—TradeArabia News Service
