Alizz bank partners with Takaful Oman

MUSCAT: alizz Islamic bank signed a Memorandum of Understanding (MoU) with Takaful Oman, the Sultanate’s first full-fledged Islamic insurance provider, to provide the bank’s customers with Motor Takaful policies at special rates.

Takaful Oman will issue Motor Takaful policies from alizz Islamic bank’s branches, thus saving the customers’ valuable time and making the process of obtaining Takaful policies more convenient for customers, says a press release.

Salaam Al Shaksy, chief executive officer of alizz Islamic bank, and Sayyidah Rawan Al Said, vice chairperson and managing director of Takaful Oman signed the MoU at a ceremony held at alizz Islamic bank’s head office in CBD, Ruwi, in the presence of Moosa Al Jadidi, head of Retail Banking at alizz Islamic bank and other executives from both institutions.

Commenting on the occasion, Salaam Al Shaksy noted: “Both alizz Islamic bank and Takaful Oman are fairly young financial institutions offering Sharia-compliant products to a growing base of customers in Oman. Our agreement with Takaful Oman marks the beginning of what we hope is a strong and successful business relationship that will provide our valued patrons with an unrivalled customer experience.”

Sayyidah Rawan commented: “We are delighted and excited about our new strategic partnership with alizz Islamic bank and be the first Takaful company in the Sultanate to distribute Motor Takaful through an Islamic bank. The partnership with alizz Islamic bank is mutually beneficial for both as we are able to offer motor Takaful to a wider audience through the bank’s distribution network and alizz customers get value added service in the form of having their vehicles insured through Sharia compliant means in the bank itself.”