Tamkeen Insurance receives the award for “Best Insurance Company Operating in accordance with the Provisions of Islamic Sharia in Palestine”

By International Business Magazine

Tamkeen Insurance receives the award for “Best Insurance Company Operating in accordance with the Provisions of Islamic Sharia in Palestine”

Ramallah - Tamkeen Insurance Company has been honored with the award for the Best Insurance Company Operating in Accordance with the Provisions of Islamic Sharia in Palestine, as issued by the International Business Magazine. This prestigious international publication, based in the United Arab Emirates, conducts annual awards programs to recognize the outstanding performance of companies and business institutions worldwide. The awards cover various sectors, including insurance, banking, and health services, and span regions such as the United States, Europe, the Middle East, Asia, and Africa.

Tamkeen Insurance Company was nominated in the category of insurance companies operating in accordance with the provisions of Islamic Sharia in Palestine by the magazine's regulatory committee. This nomination was followed by a detailed study and review of the company's financial data and performance, alongside an evaluation of its qualitative achievements in insurance services, the adoption of digital solutions in portfolio management, and customer care services. This comprehensive evaluation led to Tamkeen Insurance Company qualifying for the final stages and ultimately receiving this international award

Mr. Mohammad Al-Rimawi – The General Manager of the company expressed his pride in receiving the award, emphasizing the credibility and transparency of the International Business Magazine globally and locally. He also noted that several Palestinian banks have previously received awards in various categories, and today, Tamkeen Insurance marks a significant milestone by joining the list of winners.

Al-Rimawi stressed that this achievement is a testament to the company's record of accomplishments despite its recent establishment. He attributed this success to the dedicated efforts of Tamkeen Insurance's employees and highlighted the company's determination to continue achieving qualitative milestones. These include the company's financial solvency margin, reflecting its robust financial position and ability to meet obligations, and the launch of specific insurance services and solutions such as micro-insurance services and the expansion of the medical network to include the Hashemite Kingdom of Jordan. Additionally, the company's marketing activities and the adoption of digital solutions through the “Tamkeen Mobile application” demonstrate its commitment to innovation. The company also plans to launch digital insurance services, allowing customers to issue insurance policies and pay premiums via electronic payment channels, with announcements expected soon.

Mahmoud Shakhshir, The MarCom Department Manager, confirmed that the organizing committee's nomination followed an in-depth study of the Palestinian insurance market, focusing on companies operating in accordance with Islamic Sharia principles. He emphasized the company's confident and dedicated response to the regulatory committee's requirements, stating, "We passionately followed all requirements and submitted all documented reports on performance. Today, we are proud to be the first insurance company in Palestine to receive this award from a prestigious international magazine."

It is noteworthy that a jury comprising a group of analysts and international experts in the insurance sector supervised all evaluation stages. The awards ceremony will be held in a special event in Dubai- The United Arab Emirates, in December 2024, where Tamkeen Insurance is expected to be a prominent attendee.