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Allianz Takaful, the regional subsidiary of Allianz Group, a global leader in insurance, asset management and banking has announced the launch of its Middle East operations in Bahrain. The company will be offering Allianz's globally trusted financial services in full compliance with Sharia principles.
Dr Abdul Rahman Khalil Tolefat, CEO, said that Allianz has chosen Bahrain as its global hub for Takaful due to the country's status as an international base for Islamic finance and it being the most stable financial centre in the MENA region.
He said: "We have chosen Bahrain due to the sophistication of the regulatory framework that takes into consideration the unique characteristics of the Takaful industry and the facilities provided by the government to facilitate foreign investment.
"We will combine our parent company's global trust and expertise and our insights into the local culture to create financial solutions of world-class standards. At the same time full-compliance with Sharia rules will ensure that our customers' religious beliefs and cultural values are never compromised."
Allianz Takaful services are 100 per cent compliant with Sharia rules and regulations, and monitored by a board of well-known Sharia scholars. The company will be introducing a variety of products starting from motor insurance to sophisticated items such as retirement and saving schemes.
It also plans to introduce a new concept called 'Allianz Takaful Mall' where customers can find all their financial solutions under one roof. To enhance customer services the company will shortly be introducing a call centre and an interactive website.
