AlHuda Centre of Islamic Banking and Economics (CIBE)- UAE, a globally recognised advisory and capacity-building institution in Islamic finance, and Solus Insurance Brokers DMCC (“Solus”), a leading insurance brokerage firm in the UAE, announced the signing of a strategic agreement. This collaboration marks a significant step towards integrating ethical, Shariah-compliant insurance (Takaful) solutions into a broader spectrum of financial services for clients in the region and beyond. The agreement establishes a formal framework for AlHuda CIBE to refer its extensive network of clients and partners to Solus for their specialised Reinsurance Consultancy & brokerage needs, founded on a shared commitment to providing sophisticated, ethical, and compliant financial products.
This partnership creates a powerful, constructive collaboration by uniting AlHuda CIBE’s profound expertise and respected reputation in Islamic banking and economics with Solus’s proficiency in designing and delivering bespoke Reinsurance solutions. The alliance will provide clients with a more holistic service offering that aligns with both their financial and ethical requirements, enabling Solus to connect with a diverse and valuable clientele within AlHuda CIBE’s global network. Both entities have reinforced their commitment to operating under the highest standards of regulatory compliance and business ethics. The non-exclusive nature of the agreement allows both organisations to maintain their operational independence while leveraging this powerful synergy, and its structure for long-term collaboration demonstrates a mutual belief in the enduring value of this partnership.
Mr. Srinivasan Chalapathi, Executive Director of Solus Insurance Brokers, stated: “We are thrilled to formalise this relationship with AlHuda CIBE, an institution whose name is synonymous with excellence in Islamic finance. This partnership is a testament to our commitment to providing accessible, ethical, and sophisticated Reinsurance solutions. We look forward to supporting the Takaful Insurers in the regions of Africa, the Middle East, CIS & Europe, and the General public with the best Reinsurance Treaty and Takaful products. By combining our strengths, we can serve a wider audience with products that are not only financially sound but also culturally and religiously attuned.”
Mr. Zubair Mughal, CEO of AlHuda Centre of Islamic Banking and Economics (CIBE), commented: “Our mission has always been to promote and develop the Islamic finance industry through education, advisory, and innovative partnerships. Collaborating with a regulated and reputable firm like Solus allows us to offer our clients a seamless pathway to essential Takaful and Retakaful services, completing their financial ecosystem. This agreement is a strategic move that adds significant value to our service portfolio.
