QIB, Damaan in deal for takaful products
Daily Newspaper published by Gulf Publishing & Printing Co. Doha, Qatar

Qatar Islamic Bank (QIB) has entered into a bancassurance agreement with Damaan Islamic Insurance Company (Beema), to offer its customers a suite of innovative takaful solutions. As per the deal, QIB would be offering its customers Beema’s takaful products, which cover auto insurance, retirement plans, children education plans or simple savings/investment/ protection plans.

 QIB would also be offering Beema’s individual takaful Plan – ‘Harth’, which is a Shariah-compliant protection, savings/investment product designed specifically with the family in mind.  It encourages a systematic savings plan to build up capital that generates good returns, alongside the takaful protection element for overall family financial security – or a big purchase at some point in the future such as school or university fees, the cost of a marriage or, indeed, retirement. Savings could be reimbursed at any time. Death and permanent total disability benefits are also included in the ‘Harth’ plan. “Bringing Beema products on board is a strategy designed for the sole benefit of our customers,” said Ahmad Meshari, acting CEO of QIB.
Terming the deal as a ‘win-win’, Ali Saleh AlFadala, CEO, Beema said it would raise the insurer’s profile and at the same time, enhanced the bank’s range of Shariah-compliant offerings to customers.

Source : http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=462026&version=1&template_id=48&parent_id=28