FWU Group, a leading global Takaful company, was awarded the best “Takaful Company of 2011” at the Global Islamic Financial Awards 2011 event, which took place during the Oman Islamic Economic Forum 2011 held in Al Bustan Ritz Carlton Hotel, Muscat.
The event was attended by prominent regional and global industry leaders and dignitaries, including Yaseen Anwar, Governor of State Bank of Pakistan; Abdulaziz Al-Hanai, vice president of IDB; and Tun Abdullah Badawi, former prime minister of Malaysia.
Commenting after the awards ceremony, Manfred Dirrheimer, chairman and CEO of FWU Group, said: “Our leadership position in the industry is attributed to the successful and long-term strategic partnerships we have developed with local Takaful partners and the distribution agreements with major banks in each market.”
According to Dirrheimer, FWU Group’s unique business model, best product and process innovation, support and full after-sales service including training and customer risk profiling, were the key service quality parameters which helped the group win the award.
“We are honored to receive this award in Oman, a country that presents tremendous opportunities for Islamic finance,” said SohailJaffer, partner and head of International Business Development at FWU Group.”
The efforts deployed by the Sultanate are very encouraging, and the potential is promising. We foresee a bright outlook for the Takaful industry, and we look forward to replicating our successes in Oman and the entire region.”
FWU Group, which received 12 awards in the past and was recognized for its global Takaful expertise, specializes in white label Family Takaful unit-linked investments and offers its bank distribution partners a customized innovative Takaful product family, including savings, education, and marriage plans.
Banks are offered an open-investment architecture where they can incorporate their own Shari’ah-compliant funds into the investments universe. The company also provides a proprietary quantitative investment model for the monthly fund selection and allocation.