Al Salam Bank Enhances Takaful Offerings
Al Salam Bank has launched a new third-party Takaful product with added benefits, enhancing its suite of Shari’a-compliant insurance solutions.
Summary
Al Salam Bank has introduced a new third-party Takaful insurance product in partnership with Solidarity Bahrain, offering enhanced benefits such as car replacement and compensation.
Al Salam Bank, a leading financial institution in the Kingdom of Bahrain, has announced the launch of its latest insurance product, the Al Salam Third-Party Takaful Added Benefits. This new offering is part of the bank's comprehensive suite of Shari’a-compliant Takaful products, developed in partnership with Solidarity Bahrain, one of the largest insurance companies in the Kingdom.
The Al Salam Third-Party Takaful Added Benefits aims to provide customers with enhanced motor insurance coverage. Beneficiaries of this product will enjoy an 8-day car replacement service and 24/7 roadside assistance across Bahrain. In cases of accidents involving uninsured vehicles, clients can receive compensation of up to BD 10,000, subject to terms and conditions.
Mr. Mohammed Buhijji, Head of Retail Banking at Al Salam Bank, expressed pride in the expansion of the bank's Takaful offerings. He emphasized that the Al Salam Takaful platform is designed to be an all-inclusive solution for financing and insurance needs. Mr. Buhijji also highlighted the convenience of instant issuance services available through the bank’s branches and contact centers, with payment options including cash or the Buy Now, Pay Later service.
For potential investors, the launch of the Al Salam Third-Party Takaful Added Benefits signifies the bank's commitment to expanding its range of customer-centric products. This move could potentially attract more clients seeking comprehensive and Shari’a-compliant insurance solutions, thereby boosting the bank’s market position.
Considering the current developments and the bank's strategic partnerships, investors might consider holding onto their investments in Al Salam Bank. The bank’s focus on innovation and customer satisfaction could lead to steady growth and stability in the long term.
Source
Summary
Al Salam Bank has introduced a new insurance product called "Al Salam Third-Party Takaful Added Benefits" in collaboration with Solidarity Bahrain. This enhanced third-party motor insurance coverage offers several benefits, including an 8-day car replacement service, 24/7 roadside assistance in Bahrain, and compensation of up to BD 10,000 in the event of an accident with an uninsured vehicle. The initiative follows the successful launch of the bank's Multi-Year Motor Takaful Insurance product. Al Salam Bank aims to expand its range of Sharia-compliant takaful insurance products and offers instant issuance services through its branches and contact centers, with payment options available via cash or the Buy Now, Pay Later service. For more details, customers can visit the bank's website or contact them through WhatsApp or their virtual branch.
