NBD Takaful & Savings plan
Dubai, June 5, 2007
National Bank of Dubai is offering a new savings plan with Takaful benefits.
National Bank of Dubai has announced its partnership with Dubai Islamic Insurance & Reinsurance Company (Aman) and FWU AG to launch NBD Takaful & Savings Programme, a Shari’ah compliant savings plan with Takaful benefits, designed to meet the needs of customers looking for Islamic financial planning solutions.
The NBD Takaful & Savings Programme is a fully Shari’ah compliant plan, and the latest addition to NBD’s suite of wealth management solutions including mutual funds, structured products and Bancassurance plans.
The products are designed to meet the varied financial planning goals of customers varying from children’s education, retirement, life and accident protection, long term capital appreciation, and general savings.
The product is expected to be launched in the next few weeks and will enable customers to lay the foundation for a secure future, through a combination of long term savings and Takaful protection.
All residents of UAE, aged between 18 and 60 years, will be able to sign up for the program. Minimum contributions can be as low as Dh500 per month.
Based on their risk profile, customers will be able to invest in varying proportions of equity and cash based instruments.
NBD Takaful & Savings Programme is approved by the Shari’ah boards of National Bank of Dubai and AMAN.
“The launch of NBD Takaful & Savings Programme is a key milestone in our Retail Banking growth strategy, as it signifies the introduction of the first mainline Islamic retail product for the bank”, said Suvo Sarkar, Group Head – Retail Banking, National Bank of Dubai.
“This is a proof of our commitment to provide attractive financial solutions to different customer segments, in this case the UAE national segment to whom this product will be of particular interest,” he added.
Hussain Al Meeza, managing director of AMAN, commented:
“We are pleased to announce this joint partnership with NBD and FWU AG.
“We are confident that this product will be well received among all customers who are keen to save for their future financial goals in a Shari’ah compliant manner.
Nicholas Owen, Partner and member of the FWU International Executive Board remarked:
'FWU AG is delighted to be involved in this exciting joint venture with NBD.
“With the full support of our Dubai Regional Headquarters, AMAN and other FWU Group members, NBD will be able to offer fully Shari'ah Compliant Takaful and Savings programmes that will assist their customers in fulfilling their future financial planning needs and requirements.”
The plan will be underwritten and administered by Dubai Islamic and Reinsurance Company.
Customers, who would like to obtain more information on the program and to pre-book for a plan, may call up the NBD Call Centre on 04-3100222.
Over the years, National Bank of Dubai has developed a solid reputation of stability and strength and is currently recognised as one of the top performing banks in the region.
Founded in 1963, NBD is committed to providing customers with the knowledge and experience they need for a brighter financial future.
With their team of professionals and diverse range of personal financial services, people get the expertise and experience of one of the leading banks in the region on your side.
NBD currently has an extensive branch network that includes over 40 branches throughout UAE, in addition to a branch in London and a representative office in Tehran.
AMAN was established in 2002 as a national public shareholders company announcing the beginning of a new era in Islamic Insurance in the UAE.
The company aims to offer a comprehensive system of outstanding Islamic Insurance Services that support the stability and security of our comm