“Takaful” eyes1.5 m from the new products

Egyptian Takaful Insurance Company “Property” targets achieving EGP 1.5 million in installments in the first phase of the new products made for banks’ customers and employees.

Ahmed Arfin, managing director at Egyptian Takaful Co., said that the company is about to complete the final form of the home and car insurance and the first phase of these products will be offered next August. The Company will communicate with the subscribed banks’ presidents and specialized units to market these insurance products.

Egyptian Takaful Company is working on facilitating paying methods, one of which is subtracting the insurance value from the employee’s salary and adding it to the Company’s account with the bank. Arfin added that the Company targets 15 thousand employees in these banks; EGP 100 for each. Banks subscribed to the Egyptian Takaful Insurance” Property” are: Banque Misr, National Bank of Egypt, Misr Iran Bank, Faisal Bank, Société Arabe Internationale de Banque,  Arab International Bank and Al-Baraka Bank.

Noteworthy that Egyptian Takaful Company achieved EGP 70.7 million in the volume of installments in the first half of the current fiscal year 2011/2012, compared with EGP 64 million, with a 10% growth rate.