MANAMA, BAHRAIN – 08 February 2014 – Ithmaar Bank, a Bahrain-based Islamic Retail Bank, signed a Memorandum of Understanding (MOU) with Solidarity Group, the largest Takaful group in the world, to offer Ithmaar Bank’s Premier members exclusive insurance rates.

The MOU, which was signed by Solidarity Group Chief Executive, Ashraf Bseisu, and Ithmaar Bank General Manager, Retail and Private Banking, Abdul Hakeem Al Mutawa, offers Ithmaar Premier Members exclusively discounted rates at Solidarity General Takaful, a subsidiary of Solidarity Group.

Following the signing ceremony, Ithmaar Premier members can now enjoy discounted rates on motor, home, travel, medical and personal accident insurance products, as well as on pleasure crafts, including boats.

“Ithmaar Premier is a members only programme designed to recognise our most valuable customers by providing exclusive benefits and services,” said Al Mutawa. “The invitation-only programme offers members a dedicated relationship manager, as well as preferential bank charges and an exclusive debit card with additional privileges. The discounted insurance packages with Solidarity General Takaful are the latest addition to the growing list of Ithmaar Premier benefits,” he said.

“Solidarity Group, as well our subsidiaries and associates both in Bahrain and abroad, is committed to delivering innovative insurance solutions that meet specific market requirements,” said Bseisu. “We are pleased to partner with Ithmaar Bank and provide exclusively discounted rates at Solidarity to the Bank’s most valuable customers. This, we believe, adds tremendous value both to Ithmaar Premier members as well as to Solidarity Group and Ithmaar Bank,” he said.