logo
Salama partners with Policybazaar.ae to widen access to Life Takaful in UAE

Salama partners with Policybazaar.ae to widen access to Life Takaful in UAE

Gulf Business7 days ago
In a strategic initiative to expand life insurance coverage across the UAE, Salama, one of the world's largest and longest-established providers of Shariah-compliant Takaful solutions, has announced a partnership with
Rakesh Sudhakaran, chief commercial officer, Salama stated: 'At Salama, we've always been at the forefront of Takaful innovation, committed to ethical and forward-thinking financial solutions that support the long-term wellbeing of families in the UAE. Our strategic partnership with Policybazaar.ae represents a pivotal move in expanding our reach to customers who value ethical, transparent, and purpose-driven protection. Together, we are reshaping the future of Life Takaful — making it more accessible, relevant, and impactful for communities across the emirates.'
Salama's suite of offerings ranges from term protection to savings-linked plans and is now available via Policybazaar.ae's platform.
Read:
Neeraj Gupta, CEO, Policybazaar.ae mentioned: 'At Policybazaar.ae, we've seen increasing awareness among UAE residents about the need to safeguard their families' financial well-being. Life insurance should be an easy and transparent decision — not a complicated one. By bringing Salama's exceptional Takaful solutions onto our platform, we're empowering customers to make informed choices, anytime and anywhere. This partnership plays a vital role in closing the protection gap in the UAE.'
Product features
At the heart of the partnership is a portfolio of Life and Savings Takaful products with features such as Return of Contribution, which ensures customer contributions are returned, enabling them to stay focused on their long-term financial goals.
Atul Kathuria, business head – life insurance, Policybazaar.ae added: 'Salama's Life Takaful products uniquely blend security and financial planning. With differentiators like return of premium and guaranteed principal protection, they offer unmatched value in today's market. This partnership allows us to harness our digital capabilities to bring these solutions to a broader audience, helping more people make confident, well-informed insurance decisions.'
The partnership, which went live earlier this month, is backed by educational content, dedicated product support, and a streamlined customer journey.
Salama and Policybazaar.ae are jointly aiming to redefine insurance delivery in the UAE, reinforcing their commitment to digital innovation, financial inclusion, and long-term protection for families across the country.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Emirates introduces retrofitted Boeing 777 to Madrid
Emirates introduces retrofitted Boeing 777 to Madrid

Emirates 24/7

time18 minutes ago

  • Emirates 24/7

Emirates introduces retrofitted Boeing 777 to Madrid

Emirates, the world's largest international airline, has announced it will deploy its newly refurbished Boeing 777 aircraft to/from Madrid starting from 16 September. Customers can look forward to an enhanced travel experience with upgraded interiors and premium signature travel touches across all cabins. Madrid is Emirates' first destination in Spain to operate with the airline's next-generation interiors. Emirates' four-class Boeing 777 will operate as flight EK143/EK144. Emirates flight EK143 will depart Dubai at 14:30hrs and arrive in Madrid at 20:20hrs local time. The return flight, EK144 will depart Madrid at 22:05hrs and arrive in Dubai at 7:10hrs local time, the following day. The deployment of Emirates' retrofitted Boeing 777 to Madrid marks a new era of premium travel to the Spanish city - offering customers the airline's award-winning Premium Economy service*, newly configured Business Class cabin, and a 'better' travel experience to/from the country. Enhanced travel experience Emirates' newest Boeing 777 cabin interiors will wow customers with its modern design details and signature cabin finishings, including: - A refurbished First-Class cabin with upgraded interiors offering unparalleled luxury. - New Business Class cabin that provides more privacy and comfort for customers with fully lie-flat seats in an updated 1-2-1 seating configuration. - Latest Premium Economy cabin which combines accessible luxury with comfort; offering cream leather seats, increased legroom, adjustable headrests, deeper seat recline and raised cushioned leg rests. - Spacious Economy Class seats with new design elements. Serving 'fly better' experiences Emirates continues to invest in elevating the travel experience through its ambitious multibillion-dollar retrofit program — one of the largest in aviation history. With 61 aircraft already refurbished, including 31 A380s and 30 Boeing 777s, the program is set to upgrade over 220 aircraft with Emirates' latest cabin products. Passengers travelling with Emirates will enjoy the airline's regionally inspired gourmet meals, premium beverage selection, and award-winning inflight entertainment on ice with up to 6,500 channels of on-demand entertainment - including more than 260 channels of Spanish content. Follow Emirates 24|7 on Google News.

Emirates Islamic delivers a record AED 2.2 billion profit before tax in the first half of 2025, driven by strong income and deposit growth
Emirates Islamic delivers a record AED 2.2 billion profit before tax in the first half of 2025, driven by strong income and deposit growth

Emirates 24/7

time18 minutes ago

  • Emirates 24/7

Emirates Islamic delivers a record AED 2.2 billion profit before tax in the first half of 2025, driven by strong income and deposit growth

Emirates Islamic delivered a record AED 2.2 billion profit before tax in the first half of 2025, reflecting strong growth momentum. Total income rose 9% year-on-year to AED 2.9 billion, driven by continued expansion in both funded and non-funded income streams. Customer financing grew 13% to AED 80 billion, while customer deposits showed exceptional growth, rising 27% to AED 97.4 billion. Current and Savings Account balances now represent 65.5% of total deposits. These results highlight Emirates Islamic's position as one of the UAE's leading Islamic banks. Key Highlights – First Half 2025 - Strong operating performance on higher funded income and non-funded income • Total income up 9% y-o-y driven by higher funded and non-funded income • Expenses increased 15% y-o-y reflecting continued investments to drive growth • Impairment allowances credit at AED 136 million • Operating profit improved 6% y-o-y • Net profit increased to AED 1.863 billion, up by 12% • Net profit margin healthy at 3.74% - Strong capital and liquidity combined with a healthy deposit mix empowering the Bank to provide improved products to customers • Total assets increased by 24% to AED 138 billion during first half of 2025 • Customer financing at AED 80 billion, increased 13% during first half of 2025 • Customer deposits at AED 97.4 billion, increased 27% during first half of 2025 with Current and Saving Account balances at 65.5% of deposits • Credit Quality: Non-performing financing ratio at 2.8% with strong coverage ratio at 159.9% • Capital: Common Equity Tier 1 ratio at 17.4% and Capital adequacy ratio at 18.5% reflect the bank's strong and stable capital position • Headline Financing to Deposit ratio at 82% comfortably within the management's target range Hesham Abdulla Al Qassim, Chairman, Emirates Islamic said: • Emirates Islamic has reported a record profit before tax of AED 2.2 billion for the first half of 2025, increasing 19% year-on-year. The net profit margin stands healthy at 3.74%, while operating profit improved by 6% year-on-year. • Emirates Islamic continues to deliver strong results and accomplish its key objectives with an increasing focus on technology, new services and sustainability. We remain committed to strengthening our digital offerings to our individual, SME and corporate customers by consistently making strategic investments in technological solutions. • With the UAE's economy continuing to be buoyant, Emirates Islamic is proud to play an integral part in the nation's growth story. The bank successfully issued a USD 750 million Senior Unsecured Sukuk in the first half of 2025, received positively by the regional and global investor community. This milestone emphasises the increasing recognition of Emirates Islamic among the global investor community as Islamic banking continues to see strong growth globally while delivering increasingly sophisticated products. Emirates Islamic is committed to ensuring the proceeds are used to help in the growth of the UAE economy. • We recently partnered with Leonteq Securities AG to expand the bank's Shariah-compliant Wealth Management offerings and signed an agreement with DURAR OCTA to facilitate financial management for an upcoming luxury real estate project in Ras Al Khaimah. • The bank has received due recognition for its performance and leadership in the Islamic banking sector by winning a number of prestigious global awards in the first half of 2025. At the Euromoney Islamic Finance Awards, the bank won the award for 'The World's Best Islamic Digital Bank' and seven other awards while at the Global Finance - Best Islamic Financial Institutions Awards the bank won the awards for 'Best Islamic Corporate Bank in the World' and 'Best Islamic Financial Institution in the UAE'. • As a bank deeply rooted in the UAE, we are committed to the ongoing career growth of UAE Nationals at Emirates Islamic. With an Emiratisation rate of 42.3%, we continue with our efforts to attract and develop Emirati talent to become the future leaders of the country.' Farid AlMulla, Chief Executive Officer, Emirates Islamic said: • Emirates Islamic's growth momentum continued in the first half of 2025, with total income at AED 2.9 billion, increasing by 9% year-on-year driven by higher funded and non-funded income. • Total assets increased significantly by 24% to AED 138 billion during first half of 2025, while Customer Financing increased by 13% to AED 80 billion. Customer Deposits have shown remarkable growth, rising by 27% to AED 97.4 billion with Current and Saving Account balances at 65.5% of deposits. • During the first six months of the year, the bank reinforced its ongoing commitment to community empowerment and financial inclusion through Islamic Banking by introducing the ALPHA Youth Account. The solution encourages parents to empower their children with essential financial literacy skills and introduce them to financial independence at an early age. • Emirates Islamic strengthened its dedication to banking excellence and empowering SMEs, while contributing to the UAE's thriving business ecosystem, by launching the Business Banking Diamond Account, crafted for high-value SMEs. • We continue to secure strategic partnerships that drive digital innovation to enhance customer experiences. Emirates Islamic recently partnered with the Sharjah Real Estate Registration Department to enhance the efficiency of real estate registration and financing procedures. • Emirates Islamic recognises its workforce as a foundational pillar of success. The bank launched several specific initiatives for employees including the 'Let's Create Bankers Initiative' which supports learning, development, and growth of selected Emarati talent across the business; and the 'EI Ambassadors Programme' that focuses on collaboration between the bank and external partners for sustainability activities.'

United Arab Bank Partners with Lune for Data-Driven Mobile Banking
United Arab Bank Partners with Lune for Data-Driven Mobile Banking

Fintech News ME

timean hour ago

  • Fintech News ME

United Arab Bank Partners with Lune for Data-Driven Mobile Banking

United Arab Bank (UAB) has entered into a partnership with Lune, a UAE-based fintech company specialising in AI-driven transaction enrichment and financial data analytics. The collaboration aims to support UAB's upcoming mobile banking platform by enabling data-driven and personalised customer experiences. Through Lune's technology, UAB will convert raw transaction data into clearer financial insights via a simplified interface. The solution is intended to enhance transparency and support customers in making informed financial decisions. Features will include personalised recommendations, contextual offers, and financial planning tools delivered through conversational interfaces. Commenting on the partnership, , Head of Retail Banking at UAB, said: 'While the underlying technologies have existed for some time, we at UAB were not entirely convinced about the maturity of the outcomes, until now. Partnering with Lune, a homegrown fintech with deep expertise in the UAE's payment ecosystem and cutting-edge technologies, gives us confidence in delivering the enriched digital experience our customers expect.' Helal Tariq Lootah, Co-Founder and Co-CEO of Lune, added: 'We're delighted to be working with United Arab Bank. This collaboration reflects our shared commitment to innovation, customer empowerment, and building a stronger, data-driven financial future.' The partnership aligns with UAB's broader digital transformation agenda and its continued efforts to work with fintechs to improve banking services.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store