SALAMA ties up with DWS Investment to make world class Shari'ah Compliant funds accessible to its customers throughout UAE
Dubai, UAE: SALAMA Islamic Arab Insurance Company, world's largest Takaful and Re-Takaful Group, announced their partnership with DWS Investments, the global mutual fund arm of Deutsche Bank Group. SALAMA presents a comprehensive range of diverse Shari’ah compliant unit linked insurance products to its valued clients and the DWS Noor Islamic Funds can be accessed through these products.
As a result of the strategic tie up, SALAMA will offer its customers a host of DWS Noor Islamic Funds which are 100% Shari’ah Compliant and diversified by asset class and geography.
Speaking on the announcement, Mr. Noel D’Mello, Head of Family Takaful, SALAMA, said: “Our partnership with DWS Investments signifies another landmark achievement for SALAMA in further promoting Shari’ah Compliant savings and insurance products in the UAE. It will greatly help in achieving our objective of spreading Shari’ah Compliant insurance plans throughout UAE that are not only competitive in pricing but also flexible and affordable to meet the needs of the average person.”
With Euro 257 billion of assets under management globally, DWS is one of the top 10 largest mutual fund managers worldwide1 and the largest mutual fund company in its home country, Germany2. According to Mr. Tarek Lotfy, Director Asset Management, Middle East and North Africa, Deutsche Bank, “We are proud to have this alliance with SALAMA, UAE’s leading and specialized Takaful Company. SALAMA’s credibility, reputation for quality, diversified product range and high standards, make them our partner of choice in spreading innovative and world class DWS Shari’ah compliant investment solutions.”
About SALAMA-Islamic Arab Insurance Company
SALAMA, pioneers of Shari’ah compliant insurance enjoys both Arab and international presence. Established in 1979 in Dubai, SALAMA has become the largest Takaful & Re-Takaful group in the world with a paid up capital of USD300 million (AED 1.1 billion). It enjoys strong credit rating of ‘A-’ from A.M. Best and ‘BBB+’ from S&P. These ratings clearly reflect the Company’s growth, financial strength and investor confidence. SALAMA offers customized and high quality yet affordable Takaful solutions to individuals, families and companies.
Established over 50 years ago in Germany, DWS Investments is the leading mutual fund company in Germany² and a top ten global player¹, with €257 billion assets worldwide. Over the last few years we have seen the global rollout of the DWS brand, covering countries and products across Europe, the United States, Asia Pacific and the Middle East. As a part of the Deutsche Bank Group, we draw on the expertise of one of the largest banks in the world. DWS Investments has pursued a consistent and successful business strategy focusing on performance, innovation, quality and trust. The superior quality of DWS Investments is widely recognized across all major financial markets, with independent rating agencies consistently confirming the exceptional performance of our products. In 2007, for example, DWS Investments in Germany won the Standard & Poor’s Fund Award in the “Larger Groups” category for the 13th consecutive year.