Latest news with #Sharia-compliant
Saraha News
2 hours ago
- Business
- Saraha News
Zain Cash and Solidarity – First Insurance Sign Strategic Agreement to Issue Insurance Policies
sarha news -In line with its commitment to delivering innovative digital financial solutions for all business sectors, especially the insurance industry, which is undergoing a significant transformation through digitization and automation, Zain Cash has signed a strategic agreement with Solidarity – First Insurance to provide insurance policy issuance services to all Zain Cash users and customers, whether individuals or companies. Through this agreement, Zain Cash will enable its users to issue insurance policies conveniently and efficiently via Zain Cash app. In addition, flexible payment options will be available, including 'Buy Now Pay Later' services and installment plans of up to 12 months for holders of Zain Cash's Sharia-compliant credit cards, offered in three categories: Classic, Platinum, and World. This comes in response to customer needs, ensuring they can save time and effort while benefiting from simple, flexible financial solutions. The agreement was signed by Sultan Kashoura, CEO of Zain Cash, and Alaa Abdel Jawad, CEO of Solidarity – First Insurance. This step is part of Zain Cash's ongoing efforts to enrich customer experiences by providing a smooth, integrated digital financial journey. It also supports simplifying procedures, lowering costs, and highlighting the role of advanced AI technologies and e-commerce in the insurance sector, all with the aim of enhancing customer experience and delivering modern solutions that keep pace with the market's digital evolution. Commenting on the signing, Sultan Kashoura, CEO of Zain Cash, said: 'Our collaboration with Solidarity – First Insurance reflects Zain Cash's continuous drive to expand its digital financial offerings and deliver comprehensive services that meet the diverse needs of individuals and businesses. This partnership represents another milestone towards providing innovative, secure, and accessible financial services by simplifying insurance policy issuance and saving our customers valuable time and effort. Since its launch, Zain Cash has worked to make people's daily lives easier by offering practical, modern financial solutions that keep up with rapid technological changes, contributing to the growth of the digital financial ecosystem, boosting financial inclusion, and creating added value for everyone.' Alaa Abdel Jawad, CEO of Solidarity – First Insurance, commented: 'We are pleased to sign this important agreement with Zain Cash, which marks a significant step forward in expanding the reach of insurance services through digital platforms. This partnership reaffirms our belief in the value of digital transformation, faster policy issuance, and improving customer experience by delivering easy-to-access, innovative solutions that align with digital market trends.' Through this partnership, Zain Cash users will be able to issue and purchase insurance policies directly through Zain Cash app quickly and conveniently, making it easier to access coverage that suits both personal and business needs. Available services include, but are not limited to, health insurance and motor insurance. The agreement also allows customers to pay in installments for up to 12 months using any of Zain Cash's credit cards, which will help expand access to various coverages offered by Solidarity – First Insurance. Zain Cash's Sharia-compliant credit cards are available in three categories: Classic, Platinum, and World, and come with no interest or fees, providing customers with extra benefits and comprehensive financial solutions to help them better manage their money. Launched in cooperation with Mastercard, these cards offer credit limits starting from JOD 100 up to JOD 5,000, with no salary transfer required and no issuance fees. Zain Cash also provides a wide range of digital financial services through its wallet, including cash deposits and withdrawals, shopping at various merchants, restaurants, and online stores locally and internationally through Zain Cash Mastercard issued to wallet holders upon activation. Since its establishment in 2011, Zain Cash has become a leading player in Jordan's digital financial services and prepaid card market and is now the largest issuer of Mastercard cards in the country.
Al Anbat News
3 hours ago
- Business
- Al Anbat News
Zain Cash and Solidarity – First Insurance Sign Strategic Agreement to Issue Insurance Policies
الأنباط - In line with its commitment to delivering innovative digital financial solutions for all business sectors, especially the insurance industry, which is undergoing a significant transformation through digitization and automation, Zain Cash has signed a strategic agreement with Solidarity – First Insurance to provide insurance policy issuance services to all Zain Cash users and customers, whether individuals or companies. Through this agreement, Zain Cash will enable its users to issue insurance policies conveniently and efficiently via Zain Cash app. In addition, flexible payment options will be available, including "Buy Now Pay Later' services and installment plans of up to 12 months for holders of Zain Cash's Sharia-compliant credit cards, offered in three categories: Classic, Platinum, and World. This comes in response to customer needs, ensuring they can save time and effort while benefiting from simple, flexible financial solutions. The agreement was signed by Sultan Kashoura, CEO of Zain Cash, and Alaa Abdel Jawad, CEO of Solidarity – First Insurance. This step is part of Zain Cash's ongoing efforts to enrich customer experiences by providing a smooth, integrated digital financial journey. It also supports simplifying procedures, lowering costs, and highlighting the role of advanced AI technologies and e-commerce in the insurance sector, all with the aim of enhancing customer experience and delivering modern solutions that keep pace with the market's digital evolution. Commenting on the signing, Sultan Kashoura, CEO of Zain Cash, said: "Our collaboration with Solidarity – First Insurance reflects Zain Cash's continuous drive to expand its digital financial offerings and deliver comprehensive services that meet the diverse needs of individuals and businesses. This partnership represents another milestone towards providing innovative, secure, and accessible financial services by simplifying insurance policy issuance and saving our customers valuable time and effort. Since its launch, Zain Cash has worked to make people's daily lives easier by offering practical, modern financial solutions that keep up with rapid technological changes, contributing to the growth of the digital financial ecosystem, boosting financial inclusion, and creating added value for everyone." Alaa Abdel Jawad, CEO of Solidarity – First Insurance, commented: "We are pleased to sign this important agreement with Zain Cash, which marks a significant step forward in expanding the reach of insurance services through digital platforms. This partnership reaffirms our belief in the value of digital transformation, faster policy issuance, and improving customer experience by delivering easy-to-access, innovative solutions that align with digital market trends." Through this partnership, Zain Cash users will be able to issue and purchase insurance policies directly through Zain Cash app quickly and conveniently, making it easier to access coverage that suits both personal and business needs. Available services include, but are not limited to, health insurance and motor insurance. The agreement also allows customers to pay in installments for up to 12 months using any of Zain Cash's credit cards, which will help expand access to various coverages offered by Solidarity – First Insurance. Zain Cash's Sharia-compliant credit cards are available in three categories: Classic, Platinum, and World, and come with no interest or fees, providing customers with extra benefits and comprehensive financial solutions to help them better manage their money. Launched in cooperation with Mastercard, these cards offer credit limits starting from JOD 100 up to JOD 5,000, with no salary transfer required and no issuance fees. Zain Cash also provides a wide range of digital financial services through its wallet, including cash deposits and withdrawals, shopping at various merchants, restaurants, and online stores locally and internationally through Zain Cash Mastercard issued to wallet holders upon activation. Since its establishment in 2011, Zain Cash has become a leading player in Jordan's digital financial services and prepaid card market and is now the largest issuer of Mastercard cards in the country.
Daily Tribune
2 days ago
- Business
- Daily Tribune
BisB Offers Instant Islamic Finance via App
TDT | Manama No documents, no delays Bahrain Islamic Bank (BisB) has unveiled a new instant financing option that allows customers to access personal funds through its digital app by pledging their Tejoori Al Islami deposits. The move introduces a fully automated, Sharia-compliant financing route that eliminates the need for physical paperwork or branch visits. Customers can now instantly apply for personal finance directly through the 'BisB Digital' application, using their existing Islamic deposit balances as collateral. Digital shift Described as secure, real-time, and paperless, the service provides liquidity through a fast, pledge-based model that adheres to Islamic banking principles. The financing amount is based on the value of the pledged deposit, ensuring compliance while offering immediate convenience. Faisal Al Abdulla, Chief Retail Banking Officer at BisB, said the launch reflects the bank's push toward more responsive and accessible digital banking solutions. 'By introducing instant pledge-based financing via the 'BisB Digital' application, we are not only simplifying access to personal finance but also enhancing customer convenience,' he said. Customer-first model The new feature comes as part of BisB's wider effort to merge innovation with compliance, offering customers a seamless Islamic banking experience tailored to modern expectations. Customers interested in the pledge-based financing option can activate the feature by downloading the app and navigating to the finance section. BisB continues to position itself as a leader in digital Islamic finance by aligning technological convenience with core faith-based values.
CairoScene
3 days ago
- Business
- CairoScene
Saudi Fintech Tarmeez Capital Raises Funds to Expand Sukuk Services
The funding aligns with stc group's broader strategy to expand its digital finance footprint and back high-growth platforms that enhance capital accessibility in the Kingdom. Jul 13, 2025 Saudi-based fintech Tarmeez Capital has secured its first institutional capital injection, marking a key milestone in the company's efforts to scale its Sharia-compliant sukuk and debt instrument offerings. The funding aligns with stc group's broader strategy to expand its digital finance footprint and back high-growth platforms that enhance capital accessibility in the Kingdom. Tarmeez Capital has quickly emerged as one of the most active players in Saudi Arabia's fintech landscape, amassing over 180,000 users and facilitating more than SR 2 billion in sukuk and digital debt financing. The company offers end-to-end digital services and claims its issuance process is seven times faster than traditional channels. This investment comes at a pivotal time for the Kingdom's debt markets. In 2024, Saudi Arabia's corporate debt market grew to SAR 140 billion, while sukuk and bond issuances via CMA-licensed digital platforms rose to SR 3.5 billion - a 127.36% increase year-on-year. With a product suite aimed at both institutional and retail investors, Tarmeez Capital has grown its sukuk issuance activity by 459% over the past year. The latest funding round is expected to help the company meet growing demand and further accelerate the digitisation of sukuk in line with Saudi Vision 2030's capital market ambitions.
CairoScene
6 days ago
- Business
- CairoScene
Amazon Partners With Tamara to Expand BNPL Offering in KSA & UAE
Amazon Payment Services has teamed up with the Saudi fintech to offer interest-free Buy Now, Pay Later solutions in the UAE and Saudi Arabia, aiming to boost consumer choice across sectors. Jul 10, 2025 Amazon Payment Services has announced a new partnership with Saudi fintech Tamara to offer Buy Now, Pay Later services to merchants in the UAE and Saudi Arabia. The move aims to enhance payment flexibility for consumers and expand Sharia-compliant instalment options across the region's digital economy. The service allows customers to split payments into four interest-free instalments with no hidden fees or penalties. Tamara's BNPL offering will be integrated into Amazon Payment Services' existing merchant ecosystem, providing a unified digital payment solution across industries such as e-commerce, fashion, healthcare, travel, and education. For merchants, the addition of BNPL is expected to increase conversion rates, average basket sizes, and customer retention, while reducing cart abandonment. The integration also includes streamlined reporting and reconciliation tools to support financial tracking. Amazon Payment Services already supports BNPL options through more than 25 banking partners in the UAE, Saudi Arabia, Egypt, and Jordan. The Tamara integration adds a debit-based solution to its suite of instalment services, offering greater choice to merchants and consumers alike.
