Solidarity offers customized single contribution wealth accumulation plan

The plan, which complies with the guiding principles of Islamic Sharia'h law, has added special features to help customer's capital get the most from Sharia'h compliant investment opportunities such as investment flexibility and the ability to switch funds as the market changes.

"The SolidBond plan has two special attractive features and is the enhanced allocation to units and the loyalty bonus. Unlike many other types of investments, there is no bid/offer spread so investments are not subject to a front-end charge," said Rob King, General Manager, Solidarity - Family Takaful.

The plan, which is open to anyone aged 18 years and above, requires a minimum investment of US$20,000, which can be increased at any time during the plan's lifespan.

"As the Takaful market continues to develop and expand, the need for a greater selection of tailored and specifically designed product offerings will be key to continuing the markets success," said Bassel Hanbali, Head of Marketing Solidarity - Family Takaful. "The development of a Sharia'h compliant investment vehicle such as SolidBond is one step closer to accommodating the diverse individual needs of clients."

The introduction of the plan continues to underline Solidarity - Family Takaful's commitment to developing regional and global Takaful markets, which are expanding at an estimated rate of 15-20% per annum.

"Takaful products are in huge demand because they rely so heavily on the virtue of fairness and are concurrent with the teachings of Islam," said King.

"Solidarity prides itself on providing, in addition to SolidBond, a full line of saving, investment and protection family Takaful plans at the highest degree of service possible such as retirement, wealth accumulation, education, and other family and individual plans."
Solidarity was originally established in direct response to the growing demand for Takaful products across the region, with the expanding scope of this unique Islamic system of insurance and assurance. Solidarity is poised to lead the way in providing the utmost safety and protection against the widest possible risks, along with a diverse range of prudent saving and investment opportunities.

"We provide Islamic financial plans and work with each client to ensure that the plan they choose is compatible with their lifestyle and budget," said Hanbali.

"By offering affordable Sharia'h compliant saving, investment and protection plans for a better future, we can work to design a Sharia'h compliant financial planning method and determine the value and time period of the coverage needed to help clients plan for their financial future."

Over the coming years Solidarity plans to further expand their product line to tailor for the growing diversity of market demand for Islamic financial planning needs.