Allianz Takaful, a Bahrain-based fully owned subsidiary of Allianz Group and HSBC Amanah have entered into Bancassurance partnership to promote Islamic insurance products in the State of Qatar.

HSBC said the bank will promote and sell Family Takaful products comprising plans for protection, savings, investment and children’s education through qualified financial planning managers located in a network of branches across the Qatar.

The bank added that the products will be denominated in US Dollars and Qatari Riyal and available to both conventional and Islamic banking customers.

Allianz Takaful chairman Abdulrahman Khalil Tolefat said that HSBC is a global partner for Allianz and we are one of the bank’s preferred services providers.

"HSBC customers will now get access to Allianz’ state-of-the-art Shari’ah compliant products and services through HSBC relationship managers in their branches," Tolefat said.

HSBC senior area sales manager Javed Akhtar said that the company developed this strategic partnership with a leading and established Takaful product provider in recognition of the customer’s need to have access to quality Takaful products.