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AlHuda CIBE and Solus Insurance Partner to Expand Shariah-Compliant Takaful Products

Banking and Insurance

Business Honor - AlHuda CIBE & Solus Expand Shariah Takaful

Business Honor
11 September, 2025

New alliance enhances access to ethical, Shariah-compliant insurance solutions for global clients.

AlHuda Centre of Islamic Banking and Economics (CIBE), a reputed organization for Islamic finance, has joined hands with Solus Insurance Brokers DMCC, a well-known UAE insurance brokerage. This tie-up will see increased access to Shariah-compliant insurance products (Takaful) being brought in by integrating them into a wider mix of financial services for Middle Eastern, African, CIS, European, and international clients. The alliance will enable AlHuda CIBE to refer its extensive client base and partners to Solus for reinsurance consultancy and brokerage services. With AlHuda CIBE's extensive knowledge of Islamic economics and banking and Solus's expertise in offering customized reinsurance solutions, the tie-up guarantees that clients get financial products that respond to their financial and ethical requirements.

This pact is a strong move towards providing more accessible, ethical, Shariah-based insurance products. The partnership will be advantageous to Takaful insurers as well as customers, as it provides products based on Islamic principles with an emphasis on ethical risk management and adhering to international regulatory compliance and business ethics standards. Mr. Srinivasan Chalapathi, Solus Insurance Brokers' Executive Director, welcomed the partnership with enthusiasm, saying, "We are delighted to make our relationship formal with AlHuda CIBE. This tie-up will enable us to offer affordable, ethical reinsurance solutions that are culturally and religiously compliant with the requirements of Takaful insurers."

Mr. Zubair Mughal, AlHuda CIBE's CEO, emphasized that the alliance supports their vision for developing Islamic finance by way of education, advisory, and strategic partnerships. He added that this accord brings immense value to their portfolio of services by bridging clients with overall Takaful and Retakaful solutions, adding strength to the financial framework. This union is well on its way to taking a leadership position in the development of the Islamic insurance and finance markets, providing creative solutions that cater to the changing needs of customers around the world.