FWU Group awarded ‘Best Takaful Company’ at GIFA 2011

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.


ITS ETHIX – Financial Solutions Awarded 'Best Technology Provider of the Year' by Islamic Business and Finance Award

Dubai – The International Turnkey Systems Group (ITS) has realized a new regional achievement by obtaining the “Best Technology Provider of the Year” award at the Islamic Business and Finance Awards ceremony.

This award was presented in recognition of ITS for providing the latest technological solutions and services that would meet banks present and future needs. ITS solutions also enabled Islamic banks to face growing challenges of competition in the local and regional financial markets.

ITS has provided banks with a number of ETHIX main banking services and solutions, including Islamic banking, automation of branches management, online banking services, and technological services related to treasury and management of Islamic in-vestments and documentary credits.

Khaled Jasim Al Amiri, Assistant General Manager of ITS, received the award at a prestigious ceremony at Emirates Towers Hotel, Dubai.

Al-Amiri commented on being selected for this award: “Once again, ITS confirms its superiority by the testimony of others through obtaining one of the top regional awards and is highly recognized by companies and institutions in various sectors.”

He added: “For more than 30 years (the lifetime of the company), our human resources have played a prominent and important role in realizing these achievements. They have helped position the company to enable it to compete strongly within the market and most importantly, to distinguish itself through groups of solutions, products and services, which have ultimately become the hallmark of ITS.”

Subsequently, ITS also has been awarded “Systems Integrator of the Year” at the Ara-bian Business awards which is considered among the most notable and important awards presented to the business sector in the region.

Banking and Investment Sector

The ITS ETHIX financial solution is a recognized solution in meeting the requirements of Islamic and traditional banking and Islamic finance. ETHIX has assisted many banks and financial institutions to minimize their operational costs in responding to the increased demand of customers for both traditional and Islamic products and services.

In addition, through the use of the most advanced and developed technological solutions in the world, ETHIX Financial solutions is ranked globally as the premier total banking solution, fully compliant with Islamic Shari’a catering to Tier1 banks.

The successful strategy of the ITS Group has enabled the company to double the ceiling of its returns and achieve significant company growth. By increasing total returns and the company’s equivalent in profits, ITS have been able to make both regional and strategic expansions, highlighting the role of HR in ITS.