Business & Finance Clbu - Dubai : Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has been named the best Takaful distributor in the UAE for the second quarter of 2010.

The award was recently presented to the bank by Germany’s FWU AG, a global leader in Takaful product development, in recognition of the performance of the Al Islami Takaful savings programme.

Launched in 2009, the Al Islami Takaful programme is part of DIB’s comprehensive suite of Sharia-compliant banking solutions.

This programme combines savings and investment plans with personal Takaful protection, creating a product that offers two key benefits – savings and protection – within the same plan, the bank said in a statement.

“In a year that has proven to be challenging for all businesses, we are proud of our continued success of the Al Islami Takaful savings programme,” said Dr Adnan Chilwan, chief of retail and business banking, Dubai Islamic Bank.

“Since launch in 2009, the programme has proved to be extremely popular amongst DIB customers.”

“Our extensive branch network and professional customer service across the UAE have been instrumental in achieving this phenomenal performance. The success of the Takaful Savings programme, despite turbulent times, has led us to launch a number of new and innovative Takaful products to suit the varied needs of our customers,” he added.

The Al Islami Takaful programme offers a range of investment options to suit different risk profiles, with flexible payment options – from monthly contributions to one-time lump sum contributions – and flexible maturity periods, the statement said.