Pakistan-based United Bank Limited (UBL) has launched its Bancassurance product under the brand name 'UBL Baraka', to cater various segments of its customer base in UAE.
UBL said initially it will offer Shari’a compliant insurance products through Noor Takaful, the Islamic insurance arm of Noor Investment Group, to Emiratis and expatriate nationalities based in the UAE.
The bank said it will be offering three Shari’ah compliant insurance products namely UBL Secure, UBL Secure Plus and UBL Smart Save that will be distributed through its network of eight branches in Abu Dhabi, Dubai, Sharjah and Al Ain.
One of the key features of products is the global portability of the product, which will largely appeal to the UAE’s expatriate population, wherein the policy holder can keep their policies active wherever they are.
Besides the UAE, the bank also has a presence in major centers across the globe, including Bahrain,
Qatar, Yemen, USA, UK, Switzerland, Oman, China, Iran, Kazakhstan and Pakistan.
UBL head of international Wajahat Husain said the launch of UBL Baraka is a continuation of the process undertaken to expand the suite of products on offer to our clients.