Insurance giant Allianz has entered the GCC market offering Sharia-compliant products and services.

Allianz Takaful, to be based in Bahrain, was launched during a ceremony attended by Central Bank of Bahrain governor Rasheed Al Maraj at Ritz-Carlton Bahrain Hotel and Spa.

The event was also attended by German Ambassador Dr Hubert Lang, Allianz Takaful chairman Heinz Dollberg, chief executive Dr Abdul Rahman Khalil Tolefat and other dignitaries from the financial sector.

'We will combine Allianz's global trust and expertise, and our local insights to create financial solutions of world-class standards,' Dr Tolefat.-TradeArabia News Service