Al Salam Bank-Bahrain, one of the pioneering Sharia compliant banks in the kingdom, has signed a strategic agreement with Takaful International, one of the leading insurers.

This agreement paves the way for the bank to offer both Al Salam Bank and BMI Bank customers a suite of Sharia compliant insurance products through its extended branch network within the kingdom.

Present at the signing ceremony held at the bank’s headquarters in the Bahrain World Trade Center were Anwar Murad, deputy group CEO – banking of Al Salam Bank-Bahrain; Younis Al Sayed, chief executive officer of Takaful International; Essam Al Ansari, general manager at Takaful International; Ali Noor, deputy general manager at Takaful International; and Mohammed Buhijji, acting head of retail banking at Al Salam Bank-Bahrain.

Murad said: “We are very proud to have this partnership added to our diversified retail product portfolio and confident that this will help to achieve our vision of providing our customers with a differentiated range of products from a leading insurer. A result of our new product development strategy within the retail segment, we are working towards ensuring that our products match and exceed our customers’ financial needs and expectations.

“Our customers will now get access to Shari’a-compliant motor, property and travel insurance products at preferential pricing when applying at any of Al Salam Bank-Bahrain and BMI Bank branches. We will continue to invest in our business recognising the need for excellent customer service, a wide range of customer centric products and a strong network to support future growth.”

Al Sayed said: “I am delighted to sign this strategic agreement with Al Salam Bank-Bahrain as this unfolds a new horizon that provides the bank’s customers with Sharia compliant insurance services.  As part of the agreement, the bank’s qualified and experienced professionals successfully completed their insurance training and are highly equipped to promote Shari’a-compliant insurance products within the bank’s network of branches that will reinforce customers’ satisfaction with value-added insurance products under one roof.”

This service will be made available to both locals and residents in the kingdom. - TradeArabia News Service