Noor Takaful Enters into Strategic Banca Takaful Partnership with Dubai Islamic Bank

Dubai-UAE: 11 November, 2014 – Noor Takaful, the Islamic insurance arm of Noor Investment Group, has signed a Banca Takaful agreement with Dubai Islamic Bank (DIB), for the distribution of its individual and family Takaful products across the country.

The Banca Takaful agreement signed seeks to deliver shari'ah-compliant savings plan with Takaful benefits to customers looking for Islamic financial planning solutions.

Under the agreement, DIB will offer Noor’s range of protection, savings and investment products through multiple channels to its retail customer base. In the initial phase, DIB will market two products - Heba, a simple term plan and Osrati, a complete life plan.

Andrew Greenwood, acting CEO, Noor Takaful, said: “We are very happy to partner with DIB, to offer our range of products to the bank’s growing customer base. Noor has worked closely with DIB to develop niche products such as Heba and Osrati that offer a combination of security and capital growth to a cross section of customers. We are confident that our value-for-money offerings and transparency in delivery will resonate strongly with the more discerning and cost-conscious customers of today.”

Raju Buddhiraju, Chief of Consumer Banking at DIB, said: “We are delighted to partner with Noor Takaful, which has helped us broaden the range of our financial offerings to our customer base. Product differentiation and customization are fundamental to our strategy and we believe our partnership with Noor Takaful will take us closer to achieving our core objectives.”