SALAMA-Islamic Arab Insurance Company, the largest global Takaful and Re-Takaful Group, has signed a long-term agreement to pursue the bancassurance partnership with National Bank of Fujairah (NBF). The partnership will offer NBF customers access to a range of high quality yet affordable individual family Takaful solutions across the region.

Noel D’Mello, Head of Family Takaful, SALAMA said “This strengthens our position in the UAE and offers good opportunities for growth. NBF is a very well-established and successful bank. We will bring our bancassurance experience to become NBF’s first ever takaful partner”. He also added that “By combining SALAMA’s takaful insurance expertise with NBF’s distribution capability, we are confident of ensuring the future success and development of Shari’ah compliant insurance solutions in the UAE market.”

Steve Mullins CEO, National Bank of Fujairah commented “We were looking for a partner who would help us achieve our objectives of being a leading player in the takaful distribution market. We envisaged a partner who was not just a leader in bancassurance, but also in Shari’ah compliant insurance solutions. In our search, SALAMA was identified as a suitable partner and has capabilities and systems that will enable us to offer a range of products to our customers.” Mr. Mullins also added “SALAMA has one of the most comprehensive range of takaful solutions for individuals and families – be it investment plans, or protection or a combination of both. We are confident that with this range of solutions, we will be able to cater to the needs of our valued customers.”

About SALAMA Islamic Arab Insurance Company

SALAMA, pioneers of Shari’ah compliant insurance enjoys both Arab and international presence. Established in 1979 in Dubai, SALAMA has become the largest Takaful & Re-Takaful group in the world with a paid up capital of USD300 million (AED 1.1 billion). It enjoys strong credit rating of ‘A-’ from A.M. Best and ‘BBB+’ from S&P. These ratings clearly reflect the Company’s growth, financial strength and investor confidence. SALAMA offers customized and high quality yet affordable Takaful solutions to individuals, families and companies.