Noor Investment Group Marks Anniversaries of Noor Islamic Bank and Noor Takaful
Dubai-UAE: 06 January, 2011 – His Highness Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of Noor Investment Group, today inaugurated the new headquarters of Noor Takaful, located adjacent to the Noor Islamic Bank station on the Dubai Metro Red Line, on Sheikh Zayed Road, in the presence of a number of high-ranking officials and senior banking and finance industry representatives were also present.
The inauguration was part of the celebrations hosted by Noor Investment Group (NIG), the Dubai-based Shari’a compliant financial services group, to commemorate the third anniversary of Noor Islamic Bank and the second anniversary of its insurance arm Noor Takaful.
HH Sheikh Ahmed accompanied by Hussain AlQemzi, Group Chief Executive Officer of Noor Investment Group and Noor Islamic Bank, today went on a tour of the new Noor Takaful headquarters, and visited the Noor Islamic Bank Metro station in Al Quoz.
An anniversary celebration was held for the employees of Noor Investment Group in the afternoon.
HH Sheikh Ahmed said: “Over the last three years, the Noor brand has successfully made its mark in the Shari’a-compliant financial services industry, a sector that is still in its infancy. We believe the brand will contribute to the growth of this industry and remain in the forefront as a pioneer, offering unrivalled finance and insurance solutions.”
AlQemzi said: “We are excited to achieve another key milestone in our operations as a group. Individually, Noor Islamic Bank and Noor Takaful have made significant progress in their respective industries. The opening of the new state-of-the-art headquarters for Noor Takaful reflects our commitment to consolidate our status in the insurance industry. We will continue to provide services that match global standards to our clients in the region.”
Since the launch of the Noor brand in January 2008 with Noor Islamic Bank, the brand has been a pioneer in offering new Islamic finance solutions that have been well-received by the market. The group enhanced its leadership position with the launch of Noor Takaful in January 2009.
Noor Investment Group
Headquartered in Dubai, Noor Investment Group aims to offer state-of-the-art solutions that meet the current market needs of its consumers, stakeholders and partners. It does so while strictly abiding by the principles of Shari'a, duly supervised by a resident Shari'a Board, to ensure that all business practices stay truly and consistently Shari'a compliant.
The Company provides solutions in the sectors of consumer, corporate and investment banking, wealth and asset management, treasury, private equity, financial advisory and takaful (Islamic Insurance) services.
Noor Investment Group has the following subsidiaries:
· Noor Islamic Bank
· Noor Takaful
About Noor Islamic Bank
Established in 2007 in Dubai, Noor Islamic Bank is a full service bank delivering the broadest range of products for its customers, with an emphasis on unique and personalized services. Noor Islamic Bank’s products and services are governed by a Shari’ah Board, comprising leading Islamic scholars with extensive experience and expertise in legal, financial and banking-related matters. Noor Islamic Bank has locations across the UAE in the Emirates of Abu Dhabi, Dubai, Sharjah. For further details, please visit: www.noorbank.com or call 800NOOR(6667).
Noor Takaful is the Shari’a compliant insurance brand of Noor Investment Group LLC. Through its 2 entities Noor Takaful Family PJSC and Noor Takaful General PJSC, it offers a broad range of Shari’a compliant general and family takaful products. Noor Takaful’s business model is founded on the Shari’a principle of wakalah. Noor Takaful administers the process of participation, manages collection of the takaful contribution and processes the claims according to the contract agreed with the participants. In addition, Noor Takaful will also act as a trustee for investing funds in Shari’a compliant structures to generate returns on the contribution paid. Noor Takaful aims to set new standards in the region’s booming takaful industry with a focus on service innovation. Noor Takaful's products and services are governed by a Shari’a supervisory board comprising of well-known Islamic scholars.