The NBD Takaful & Savings Programme is a fully Shari'ah compliant plan, and the latest addition to NBD's suite of wealth management solutions including mutual funds, structured products and Bancassurance plans. The products are designed to meet the varied financial planning goals of customers varying from children's education, retirement, life and accident protection, long term capital appreciation, and general savings.
The product is expected to be launched in the next few weeks and will enable customers to lay the foundation for a secure future, through a combination of long term savings and Takaful protection.
All residents of UAE, aged between 18 and 60 years, will be able to sign up for the program. Based on their risk profile, customers will be able to invest in varying proportions of equity and cash based instruments.
NBD Takaful & Savings Programme is approved by the Shari'ah boards of National Bank of Dubai and AMAN.
"The launch of NBD Takaful & Savings Programme is a key milestone in our retail banking growth strategy, as it signifies the introduction of the first mainline Islamic retail product for the bank", said Suvo Sarkar, Group Head - Retail Banking, National Bank of Dubai. "This is a proof of our commitment to provide attractive financial solutions to different customer segments, in this case the UAE national segment to whom this product will be of particular interest", he added.
Mr Hussain Al Meeza, Managing Director of AMAN commented "We are pleased to announce this joint partnership with NBD and FWU AG. We are confident that this product will be well received among all customers who are keen to save for their future financial goals in a Shari'ah compliant manner.
Nicholas Owen, Partner and member of the FWU International Executive Board remarked, "FWU AG is delighted to be involved in this exciting joint venture with NBD. With the full support of our Dubai regional headquarters, AMAN and other FWU Group members, NBD will be able to offer fully Shari'ah Compliant Takaful and Savings programmes that will assist their customers in fulfilling their future financial planning needs and requirements".
The plan will be underwritten and administered by Dubai Islamic and Reinsurance Company.
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NBD, AMAN and FWU AG to jointly offer Shari'ah compliant savings plans with Takaful benefits
- United Arab Emirates: Tuesday, June 05 - 2007 at 11:51
- PRESS RELEASE
National Bank of Dubai today announced its partnership with Dubai Islamic Insurance & Reinsurance Company ('AMAN') and FWU AG to launch NBD Takaful & Savings Programme, a Shari'ah compliant savings plan with Takaful benefits, designed to meet the needs of customers looking for Islamic financial planning solutions.
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Notes and media contacts
Customers, who would like to obtain more information on the program and to pre-book for a plan, may call up the NBD Call Centre on 04-3100222.About National Bank of Dubai
Over the years, National Bank of Dubai has developed a solid reputation of stability and strength and is currently recognized as one of the top performing banks in the region. Founded in 1963, NBD is committed to providing customers with the knowledge and experience they need for a brighter financial future. With our team of professionals and diverse range of personal financial services, you have the expertise and experience of one of the leading banks in the region on your side.
NBD currently has an extensive branch network that includes over 40 branches throughout UAE, in addition to a branch in London and a representative office in Tehran.
About AMAN
AMAN was established in 2002 as a national public shareholders company announcing the beginning of a new era in Islamic Insurance in the UAE. The company aims to offer a comprehensive system of outstanding Islamic Insurance Services that support the stability and security of our communities. As a national Islamic Company, Aman Investment and Insurance activities are conducted in accordance with Shari'ah guidelines under the supervision of the Fatwa and Shari'ah Supervisory Board whose members are specialists in Islamic economic and Shari'ah transactions.
About FWU AG
The FWU Group is an entrepreneurial financial services group established in 1989, with headquarters in Munich, Germany. Further branches and subsidiaries are located at Dubai Internet City (DIC), in the United Arab Emirates and in Luxembourg, Italy, Malaysia and the Kingdom of Saudi Arabia. FWU has recently won the accolade of "The Best Takaful Provider" at the EUROMONEY - Islamic Finance Awards 2007 and has also been appointed as an observer member of the prestigious Islamic Financial Services Board (IFSB). Group shareholders include Swiss Re Frankona AG, an international re-insurer, European banks and insurance companies. Core activities are BancTakaful, (BancAssurance), Unit Linked Savings & Pension Plans, and Asset Management.
For more information, please contact:
Ramy Lawand
Executive PR
National Bank of Dubai
Tel: 04-2012204
Fax: 04-2210319
Mobile: 050-8420729
Posted by Medilyn Manibo, Assistant News EditorTuesday, June 05 - 2007 at 11:51 UAE local time (GMT+4)
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