Solidarity has been elected the world's best Takaful company for year 2006

A record total of 1,232 votes were cast in the 31 contested categories in the Islamic Finance news 2006 Best Islamic Banks Poll. Of these, 143 were rejected owing to irregularities found during the due diligence process resulting with a total of 1,089 votes counted towards the final call.

Islamic finance issuers, investors, non-banking financial intermediaries and Government bodies from around the world were invited to participate in the leading annual poll.

Voting took place during December and participants were requested to take only 2006 into consideration when casting their views. Several reputable organizations from the kingdom of Bahrain retained their number one status from last years' inaugural poll including Solidarity and others took the runners up spot.

Solidarity, the winner of Sheikh Mohamed Bin Rashid Al Maktoom for the Global Contribution to Islamic Finance in 2005, was honoured exclusively the award of the world's best Takaful provider from the "Islamic Finance News - Best Islamic Banks Poll 2006" with a total of 1,089 votes counted towards the final results.

Commenting on the award, Sameer Ebrahim Al Wazzan CEO - Solidarity, said: "We are extremely honored for achieving the award of the world's best Takaful provider, exclusively and among major global Takaful providers. I would like to take this opportunity to thank Solidarity staff and partners in Bahrain, Saudi, Qatar, Oman, Jordan, Far East and Europe for their continual contribution to provide competitive Takaful products that comply with the guiding principles of Islamic Sharia'h along with the best services possible".

"Solidarity's achievements in the year 2006 are represented in the international expansion into key markets and a capital injection resulted in US$ 150 million in paid up and US$ 500 in authorized. The year 2007 will witness, Inshalla, continual expansion and an additional capital injection that will result in US$ 275 million in paid up; In addition to providing competitive Sharia'h compliant family and general Takaful products." Al Wazzan Added.