News
Dubai Islamic Insurance signs deal with Alico
| May 27, 2010 by Tracey Scott
Dubai Islamic Insurance and Reinsurance Company has signed a cooperation agreement with American Life Insurance Company.
Under the agreement, Aman will provide Alico’s shair’a-compliant insurance products to its UAE customer base.
According to the terms of the agreement, Aman will issue Alico’s takaful products, as per the opinion of Aman’s Fatwa and its shari’a board.
Hussein Mohammed Al Meeza, Aman managing director and chief executive, said the agreement is in line with the insurer’s continued efforts to provide new and innovative shari’a compliant takaful products to its valued customers in the UAE.
He added that any new insurance products will be reviewed by Aman’s Fatwa and shari’a supervisory board to make sure they comply with shari’a takaful insurance principles before being offered to the customers.
Michel Khalaf, Alico chief executive for the Middle East, Africa and South Asia region, said the move forms part of Alico’s push into the UAE market.
