Saudi Arabia’s Bank Al Jazira dominates the field of life takaful in terms of both volume and innovation, and helped to develop the Saudi insurance market following the introduction of new insurance legislation. The bank beat Munich-based financial services company FWU Group to take the top spot in this category.
Among its product offerings is a basket of family products, including a savings plan for education and marriage that adheres to Islamic inheritance law. The bank’s takaful ta’awuni division (TTD) also uses a unitized/unit-linked investment approach for all of its products that allows clients to chose the investment fund and strategies that best suit their risk appetite.
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