PIB and Takaful Insurance sign bank settlement agreement
Palestine Islamic Bank (PIB) and Takaful Insurance signed a bank settlement agreement under which the bank will settle the accounts of Takaful in the national invoicing and payment system E-SADAD.
The agreement was signed at the headquarters of Takaful Insurance in Ramallah in the presence of PIB General Manager, Dr. Imad Al-Sadi, and the General Manager of Takaful Insurance, Riyad Al-Atrash.
Al-Sadi said that this agreement is part of the ongoing cooperation between the two entities in several fields, and it also contributes to enhancing the public's move towards using electronic payment solutions as an alternative to traditional payment methods, in a way that facilitates payments and saves time and effort.
Al-Sadi added: "This is not the first agreement between us and Takaful Insurance, as we are always keen to strengthen our partnership as part of our endeavor to strengthen cooperation with Islamic financial institutions in Palestine due to the importance of this in supporting the development and prosperity of the Islamic financial industry. Such partnerships also contribute to building mechanisms to promote digital transformation and make electronic payment solutions available to the public."
For his part, the General Manager of Takaful Insurance, Riyad Al-Atrash, said that the company's mission is to provide all Takaful insurance services to institutions and individuals through an institutional framework committed to concepts of modernity and in a manner that does not conflict with Islamic Sharia and preserves the interests of Takaful Fund subscribers and company investors.
PIB seeks to strengthen partnerships with Islamic financial and banking institutions at the local and international levels, and its mission and vision revolves around excellence in providing modern and safe banking and investment solutions in accordance with the provisions of Islamic Sharia. PIB also developed a comprehensive strategy for digital transformation resulting in the launch of digital services that provide banking services through an easy and secure environment that enhances the digital experience for retail and corporate customers.