CBD signs partnership agreement with Noor Takaful to provide comprehensive takaful solutions

Dubai, 02 February 2020: Commercial Bank of Dubai, one of the leading banks in the UAE, and Noor Takaful, a leading Shariah-compliant provider of insurance (Takaful) products recently announced the signing of a strategic partnership to provide comprehensive takaful solutions to the bank's customers in the UAE.

Through this partnership, the bank will offer a comprehensive range of insurance products to help customers save towards their financial goals as well as to ensure their families are protected against critical and unforeseen events. The tie-up will also offer life insurance solutions to help customers address their protection needs.

The partnership agreement was signed by Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai and Rajesh Sethi, Chief Executive Officer of Noor Takaful.

Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai, said, “The strong legacy of Commercial Bank of Dubai over the past 50 years combined with Noor Takaful’s leadership and local expertise in the insurance industry, will form a strong foundation for a successful partnership.  The wide range of insurance products provided by Noor Takaful will benefit the bank by broadening its portfolio of products and services, and add significant value to our customers.”

Fahad Al Muhairi, General Manager, Islamic Banking, said, “We are pleased to add Noor Takaful’s insurance products to CBD’s wide range of innovative products and services for our retail customers. CBD is committed to helping people meet their financial goals, and this partnership will ensure that we are also supporting them to protect these ambitions.”

From his side, Rajesh Sethi, Chief Executive Officer of Noor Takaful, said, “Our partnership with Commercial Bank of Dubai (CBD) will focus on delivering Noor Takaful’s customised insurance products to CBD’s customers. Our vision is that takaful insurance should deliver peace of mind to our customers. Our protection plans and savings solutions are innovative, ethical (Shari’ah compliant) and designed to ensure a positive customer experience. “