June 8, 2006
Shamil Bank signs an agreement with Solidarity

Solidarity to provide Bank Staffs and their Family the Health Care services

Shamil Bank and Solidarity, one of the largest Takaful companies in the world, have signed an agreement to appoint Solidarity as the Health Care Takaful provider to all Shamil Bank employees and their families. This agreement came to emphasis on the importance of enhancing the corporation between Bahraini companies in the financial services sector which will strengthen the Kingdom’s reputation as the center of the financial services in the Middle East.

Commenting on the agreement, Mohammed Hussain, Chief Executive Officer of Shamil Bank said: “we are delighted with the Takaful agreement with Solidarity for the confident we have in the quality services provided and the Sharia’h scholars acceptance of the Health Care Takaful product”.

The Health Care Takaful service will provide Shamil Bank employees and their families with medical cover in a wide range of hospitals, health centers and specialist clinics. The aim of providing such professional services lies behind establishing a healthy working environment to the Bank staff by increasing their incentives.

On the other hand, Sameer Al Wazzan, Chief Executive Officer of Solidarity said: “we are proud of the Health Care Takaful agreement we signed with Shamil Bank. The latter is classified as one of the leading Islamic banks in the Kingdom of Bahrain where it provides unique Islamic financial services and solutions”.

Al Wazzan highlighted that Solidarity succeeded in offering innovative Takaful products that comply with Islamic Sharia’h in the kingdom of Bahrain, Saudi Arabia and Qatar. Moreover, the firm’s future plan is to expand in key international markets in the Middle East, Asian and Europe.

Solidarity has been set up in direct response to the growing demand for Family and General Takaful products. Realizing the scope of this unique and ever-expanding Islamic system of insurance and assurance, Solidarity is one of to the global leaders in providing a diverse range of prudent saving and investment opportunities with Takaful Protection Benefits - designed to give the ultimate peace of mind - ideally suited for retirement, wealth accumulation, education, and other family and individual plans. Along the family related plans, Solidarity provides the utmost safety and protection against the widest possible risks through a range of General Takaful products like: Motor, Home, Marine, health and other corporate protection products.