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

Gold prices rise by Dh100 per gram in a year: Here is how much UAE residents gained
Gold prices rise by Dh100 per gram in a year: Here is how much UAE residents gained

Khaleej Times

time15 minutes ago

  • Khaleej Times

Gold prices rise by Dh100 per gram in a year: Here is how much UAE residents gained

Gold prices in the UAE have surged by approximately Dh100 per gram over the past year, prompting many residents to call their gold jewellery purchases one of the best investment decisions they've made. Last summer, the 22K gold variant was trading between Dh279 and Dh290 per gram. As of Wednesday, it was priced at over Dh380 per gram. According to World Gold Council data, the price has been steadily rising since the third quarter of 2023. Prices have risen by nearly $800 per ounce year-on-year in the first quarter of 2025. Data showed that gold price averaged $1,928.5 per ounce in Q3 2023, rising to $1,971.5 in the fourth quarter of that year. In 2024, price averaged around $2,069.8 per ounce in the first quarter, rising to $2,338.2 in Q2, $2,474.3 in Q3, $2,663.4 in Q4 and $2,859.6 in the first quarter of 2025. 'When I bought gold in 2024, the 22K price was around Dh290 per gram,' said Rajitha Nair, a PR and corporate communications professional. 'I used to check rates regularly and felt it was a good time to invest. With prices now above Dh380, the same purchase would be significantly more expensive today. It really shows how much value gold has gained in just a year.' Rajitha considers her gold jewellery purchase both emotionally meaningful and financially smart. 'I'd say it's one of the most rewarding investments I've made. A Dh100-per-gram gain in a year is substantial — especially for something I love to wear as well.' She added, 'Jewellery is a tangible asset with emotional value. While coins and bars are great for pure investment, jewellery offers personal satisfaction and beauty.' Another long-time UAE resident, Pooja S., a sales and marketing executive, also purchased gold jewellery last year when 22K gold was priced at Dh277 per gram. 'With prices up by about Dh100 per gram now, I would have spent roughly Dh2,450 more for the same pieces today,' she said. Hold, don't sell Pooja also invests in gold bars and coins, viewing the metal as a safe and reliable store of value. Rajitha advised fellow residents to hold on to their gold rather than selling it at this stage. 'With prices climbing steadily, I think it's wise to wait. A little patience now might result in better returns later,' she said. She also emphasised the enduring significance of gold. 'Gold remains relevant regardless of the economic climate. It's not just about financial returns — it represents cultural heritage, security, and timeless beauty. Especially in our region, gold is both an investment and a tradition.' What do jewellers say? According to Nirmal Kumar, senior executive at Yogesh Jewellers, a Dh100-per-gram increase within a year is 'remarkable". 'For many clients, especially those who bought in early 2024, gold has proven to be both a profitable and sentimental investment — something beautiful that appreciates in value,' he said. 'Coins and bars are ideal for pure investment, but jewellery offers both value and experience. Whether for wealth protection, gifting, or legacy planning, gold — especially 18K and 21K jewellery — blends tradition, security, and return on investment.' Aditya Singh, head of international jewellery business at Titan Company (Tanishq), noted a transformation in both consumer behaviour and retail strategy over the past year. 'We've seen a shift toward lighter, modular, and versatile designs that are wearable on multiple occasions and more affordable. Younger consumers are driving this demand — they're looking for jewellery that reflects their personal identity through customisation, storytelling, and modernised traditional design,' he said. 'Today's customers want transparency on pricing, making charges, sourcing, and certifications. Retailers that lead with authenticity and meaningful value — not just discounts — are earning long-term trust.'

UAE banks to cancel OTPs, switch to app verification from July 25: Emarat Al Youm
UAE banks to cancel OTPs, switch to app verification from July 25: Emarat Al Youm

Khaleej Times

time15 minutes ago

  • Khaleej Times

UAE banks to cancel OTPs, switch to app verification from July 25: Emarat Al Youm

UAE banks will gradually stop sending one-time passwords (OTPs) via SMS and email for digital transactions starting July 25, 2025, according to a report by Emarat Al Youm. The change will apply to all types of local and international financial transfers and online transactions. Instead of OTPs, banks will shift to authentication via mobile banking apps, using in-app confirmation features. An official notice, highlighted in the report, confirms that the move follows directives from the Central Bank of the UAE and will be implemented in phases. Customers will need to enable and use the app-based verification feature to authorise transactions going forward.

Heritage and hardware: My trip to Shenzhen surprises and charms in equal measure
Heritage and hardware: My trip to Shenzhen surprises and charms in equal measure

The National

time15 minutes ago

  • The National

Heritage and hardware: My trip to Shenzhen surprises and charms in equal measure

Some great cities can overwhelm you with centuries of architecture and culture, but Shenzhen in China offers something entirely different: a chance to experience a land in transformation. When the Chinese government declared the city as the country's first Special Economic Zone in 1980, farmlands gave way to industrial corridors as companies including national behemoths Huawei and Tencent – both founded in the city – thrived under the favourable economic conditions. Arriving in Shenzhen The shedding of rural origins is visible from the air, as my Emirates flight descends towards the southern Chinese city – completing a near-eight-hour journey from Dubai across the Arabian Peninsula, the Indian subcontinent and mainland Southeast Asia. The approach into Shenzhen Bao'an International Airport reveals a city of planned zones, punctuated by green spaces such as the expansive Lianhuashan Park and Shenzhen Bay Park. Along the southern edge are the deep blue waters of the South China Sea stretching towards Hong Kong and Macau. The airport itself, which is reportedly set to add a third runway this year, is understated. Clearing customs is relatively swift, and within half an hour of landing, I'm moving through a grand hall filled with filtered natural light. The terminal is wide, open – said to resemble a manta ray – and free of extravagant displays. It provides an early glimpse of a city built for functionality and logistics rather than spectacle. The 40-minute drive down the coastal Guangshen Expressway towards the city centre reveals more of the evolution. Land once made up of ricefields and marshes – threaded through the irrigation channels that gave Shenzhen, meaning 'deep drains', its name – is now occupied by dense districts that are home to more than 17 million people. I spot the outlines of Longgang, a major manufacturing hub of electronics such as smartphones and power supply units, and Futian, the city's administrative and commercial core. The glimmering outlines of China Resources Tower, shaped like a bamboo shoot, and the twin-glass Tencent Seafront Towers also rise in the distance as we near the slick Conrad Shenzhen hotel in the Nanshan district. Tech walk in Huaqiangbei One of the nine districts that make up Shenzhen, Nanshan is a quiet area, known for its tech campuses, public parks and universities. It provides a needed charge before I am thrust into the colour and frenzy of Huaqiangbei – the world's largest electronics market and, for many entrepreneurs, the main reason to visit Shenzhen. The market's scale hits me first. The strip may be only 800 metres long, but it's flanked by multistorey buildings packed with nearly 40,000 vendors. Most of the buildings don't carry signs stating any specific wares or brands. You simply step in and get enveloped by endless booths – a sea of motherboards, loose cables, LED strips, soldering kits, phone cases and even neck massagers. Behind booths, shopkeepers invite you to check the merchandise while keyboard and drum beats reverberate as customers test digital music pads nearby. Though the market invites wandering, most people come here to get things done, whether it's seeking the latest podcast microphones, drones or mobile camera stands. Deals are made through translation apps, and haggling is expected. Payments happen in cash or via the easy-to-use Alipay app. I leave with a bundle of phone cords, a battery charger, two one-terabyte USB drives and a white eye massager shaped like a sleeping mask, all for 200 yuan (Dh102). While Huaqiangbei feels initially chaotic, its sheer purposefulness is another reflection of Shenzhen as a city where things get done without fuss or ceremony. Balance of science and culture The buzz dims as I take a 40-minute taxi across Guangming district to reach the Shenzhen Science and Technology Museum. Opened in May, the museum stands as a sign of Shenzhen's planned shift from manufacturing hub to tech powerhouse. That ambition crystallises in the building itself. The sleek glass and steel facade, designed by Zaha Hadid Architects, resembles a spacecraft. The atrium, bound by curved silver walls and a large Chinese flag in the centre, feels like an airport terminal. Hundreds of students and families move towards kiosks selling entry tickets, priced at 50 yuan for adults. Inside, the museum's purpose is clear: spark a love of science early. Exhibitions span four permanent halls and lean heavily on gamification. In the robotics and sustainability zones, children bang on taiko drums. The harder they strike, the more virtual energy is generated. A screen tracks an animated character racing towards a finish line, making learning a fun competition between friends. Nearby, robotic arms assemble coffee orders, while humanoid robots greet visitors. Other exhibits envision futures where technology works alongside humans, from robot surgeons to automated valet parking. The messaging aims to inspire excitement at the opportunities technology offers up, rather than a fear of change. But for all of its positioning as a tech and manufacturing hub, Shenzhen also maintains its respect for the past. The city's own heritage is preserved and celebrated at Shenzhen Museum in Futian District and, more vividly, at the Splendid China Folk Culture Village. Located about 18km from the city centre, the sprawling 30-hectare site is divided into more than 20 sections, each replicating ethnic villages of China's officially recognised minority communities. You can traverse wooden stilt homes of the Dong people native to Guizhou Province, marvel at the intricate carvings of the Miao community and witness the swirling fan dance of the Dai people from Yunnan Province. The village is vast, and the highlight of my stay was renting a buggy, for 50 yuan an hour, to explore the site at a languid pace. Cruising through its sections, I felt like I was inside a picture book, unfolding as I passed mini replicas of the Great Wall and a similarly scaled-down Forbidden City. Lovingly preserved and charmingly quaint, the village should take up a priority spot on any Shenzhen itinerary. Artistic alleyways A 25-minute taxi ride away can have you experiencing the creative side of Shenzhen. The entrance to Dafen Oil Painting Village is a nondescript alley off a busy road, but once inside, the noise recedes as you arrive at a central courtyard from which narrow alleyways fan out to hundreds of tiny studios and galleries. There are painters at work in almost every doorway. From the outside, some spaces appear no bigger than shoeboxes, others are more elaborate. I see a woman painting porcelain dolls beside a man copying Vincent van Gogh's Starry Night, seemingly from memory. Other artists recreate everything from traditional Chinese landscapes to vibrant video game characters such as Sonic the Hedgehog. Once known for its mass production of cheap knock-offs of western masterpieces, the village's reputation has changed over the past decade with galleries such as Sunrise Art Centre and TNT Contemporary Art Space now showcasing original work by local and regional artists. Yes, you can haggle and take an accurate recreation home, but you can also pause and soak in the atmosphere. Get lost in the alleyways and find art you didn't know you needed, or sit in one of the courtyard cafes where students gather and elderly men play chess. Unlike Huaqiangbei, there's no commercial urgency here. The fact that art is being made is all that matters. Halal dining in Shenzhen My final stop is a quiet dinner inside Muslim Hotel Restaurant, a modest but enduring presence in Shenzhen's city centre. A TripAdvisor find, its name appeared on top lists of halal restaurants to try – also including Turkish-inspired Mevlana and Muslim Noodles Restaurant – with the added distinction that it's been operating for more than 40 years. The menu reflects the culinary heritage of China's north-western Muslim communities, but adapted to the tastes of the southern port city. I order sauteed mushroom and spinach, beef baked dumplings and spicy chicken noodles for 204 yuan. It's a homely and hearty meal that underscores the cohesion of Shenzhen, where tech markets and futuristic museums seamlessly sit alongside historical villages and culinary stalwarts. It all forms part of a larger story in a city whose potential is still being written.

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