TDT | Manama The Daily Tribune – www.newsofbahrain.com Bahrain Islamic Bank (BisB), the leading provider of Islamic digital banking services in the Kingdom of Bahrain, signed a Memorandum of Understanding with the Social Insurance Organisation (SIO) to provide Sharia-compli
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Bahrain Islamic Bank (BisB), the leading provider of Islamic digital banking services in the Kingdom of Bahrain, signed a Memorandum of Understanding with the Social Insurance Organisation (SIO) to provide Sharia-compliant commutation services starting October 2023.
The signing ceremony recently took place at the SIO headquarters in the presence of Yaser Alsharifi, Chief Executive Officer of BisB, and Eman Al-Murbati, Chief Executive Officer of the Social Insurance Organization.
In collaboration with the SIO, the Bank will be hosting an event focusing on its commutation finance services, set to take place today and tomorrow from 10 am to 6 pm at the Bank’s Financial Mall in Budaiya.
The event will focus on offering facilitated, Sharia-compliant commutation solutions from under one roof. The initiative also aims to provide customers with convenient, streamlined services and to answer all their questions regarding the commutation offering.
Yaser Alsharifi, Chief Executive Officer at BisB, said: “We are pleased to be the first bank to partner with the Social Insurance Organization to launch commutation services for insured customers and pensioners.
We are also delighted to be the first bank to organize this event with the SIO as we hope to better serve our citizens and offer exceptional, seamless services.” Eman Al-Murbati, Chief Executive Officer of the SIO, expressed her pleasure to begin collaborating with Islamic banks to deliver Sharia-compliant services for retirees in line with the terms and conditions displayed in insurance laws and amendments.
