Solidarity signs agreement with Mannai Motors

Mannai Motors, one of the leading Bahraini Establishments specialised in the Automotive industry, and Solidarity, one of the largest Takaful Companies in the world, have signed an agreement making Mannai Motors an authorised Service Centre, equipped with the advanced and modern Automotive equipments, to service the claims of all Solidarity Motor Takaful policyholders.

Bahrain: Tuesday, December 05 - 2006 at 09:36
PRESS RELEASE

Mr. Talal Al Mannai, MD - Mannai Motors and Mr. Sameer Ebrahim Al Wazzan, CEO - Solidarity.

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Announcing the partnership Mr. Talal Al Mannai, MD - Mannai Motors, highlighted the interest of tying up with Solidarity to the growing demand for Motor Takaful Policies in the Kingdom of Bahrain and the clients' interest to work directly with companies that provide competitive and Sharia'h compliant General Takaful Products.

'Takaful products, especially Motor Takaful provided by Solidarity, are in huge demand because they rely so heavily on the virtue of fairness and are concurrent with the teachings of Islam. As we now live in such a dynamic and diverse market, we have to provide the structured and innovative products that meet market expectations. At Mannai Motors, Auto Service Center, our Service Center staffs are experienced and well trained to do all types of Electrical and Mechanical jobs, Bodywork and painting.'

said Mr. Talal.

Mannai Motors and Solidarity - General Takaful signed the agreement as part of the strategy to provide additional services to all SOLIDMotor policyholders in the kingdom of Bahrain.

'By signing this agreement with Solidarity, we are enlarging our client base to include those of Solidarity. Besides, we, as a Bahraini Establishment, are helping to build a bridge within the Bahraini private sector for a sound future for the kingdom of Bahrain. Solidarity SOLIDMotor will offer peace of mind through a competitive motor Takaful protection and Mannai Motors Auto Services Center will allow clients to have quick services in a fully equipped and computerized Automotive center capable of repairing all types of electronic and body repairs, including chassis repairs, body aligning, denting and painting.' Added Mr. Talal.

On the other hand, Mr. Sameer Ebrahim Al Wazzan, CEO - Solidarity commented on the signing ceremony: 'Mannai Motors has leveraged itself as one of the leading Automotive Bahraini establishments in the Kingdom; and this agreement strengthens Solidarity's current structure to lead the market. Our ability to repeatedly deliver the best services possible and well thought out products, has meant that Solidarity has developed a solid and respected reputation with customers and investors alike.'

'Both our companies aim to accommodate the diverse individual and businesses needs by providing a competitive and well structured Motor Takaful product with best services possible. ' added Al Wazzan.

Al Wazzan added: 'Solidarity's principal objective is to be the leading Takaful Company globally by providing a full range of Takaful products to the highest standards of services possible. To achieve this objective, the board of directors lately approved a capital injection of US$175 million for our existing US$100 million paid up capital to have a total paid up capital of US$275 million.'

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Notes and media contacts

For more information, please contact:
Bassel Hanbali - Head of Marketing, Solidarity
Or
May Marzooq - Marketing Communications Officer Yosra Abbas - Marketing Coordinator
Tel: +973 17 578777
Fax: +973 17 578787

About Solidarity

Established as one of the Largest Takaful Companies in the world with US$ 100 million in paid up capital and US$300 million authorized capital, Solidarity provides Takaful products that comply with Islamic Sharia'h across the globe.

Solidarity is set to capitalize on the success of its opening years by continuing its expansion in to key international markets. To strengthen its current position and achieve the expansion strategy, Solidarity is in the process of increasing its paid up capital to US$ 275 million, and its authorized capital to US $500 million.

Solidarity provides Islamic Financial Planning through a range of Family Takaful saving and investment plans with Takaful Protection Benefits ideally suited for education, retirement and wealth accumulation; in addition to Home Financing and other general safety and protection products to cover various risks.

Solidarity has the resources to deliver unmatched risk management financial solutions, tailored to meet the needs of individuals, families and businesses.

About Mannai Motors
Mannai Motors is a Bahraini Establishment specialized in trading in Automobiles, Automotive Parts, Accessories, Batteries, Auto Care Products, Lubricants, and Tyres. With its professional management and staff, it has gained a respectable name in the Automotive market and its satisfied customers are increasing day by day.

Representing famous and world leading brands makes Mannai Motors confident of its efforts in fulfilling the Auto customer needs.

Mannai Motors is appointed by General Motors as an exclusive authorized dealer for its Saab and Opel Vehicles in kingdom of Bahrain. And also recently appointed by Geely Automobile Co. as the exclusive authorized dealer for Kingdom of Bahrain and State of Qatar.

An outstanding Showroom and Service Centre have been established and supported by a professional management and qualified staff. Both Showroom and Service Centre are fully equipped with the latest technology and according to the standards and specifications of Saab, Opel and Geely.

Mannai Motors is part of the Mannai Group. A diversified business Organisation established more than one hundred years ago. Mannai is a leading business corporation not only in the Kingdom of Bahrain but in the Middle East.

Posted by Anne-Birte Stensgaard, Senior News Editor
Tuesday, December 05 - 2006 at 09:36 UAE local time (GMT+4)

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This Article was updated on Tuesday, March 27 - 2007

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