Salama: The Pillar of Ethical Insurance in the Middle East’s Takaful Industry

Salama Islamic Arab Insurance Company is simply known as Salama. Within a very short period, it has emerged as a leader on the globe in Takaful insurance. Having proven itself through effective leadership in the provision of Shariah-compliant insurance solutions, Salama aims to protect its clients’ futures based on Islamic principles. The company, headquartered in Dubai, and trading on the Dubai Financial Market, has maintained consistent growth over time, considering the AED 939 million paid-up capital, amounting to approximately USD 255 million. Salama covers over 450,000 policyholders in the Middle East and North Africa and has diversified offerings for individuals, families, and businesses, making it a bedrock of Takaful Insurance.

Salama took an innovative approach towards Shariah-compliant insurance back when Islamic finance solutions were a relatively niche product. Over the years, the company has stuck to growing its services in keeping with modern requirements without weakening its principle basis. Takaful insurance is the core of Salama services, one that bases mutual cooperation and shared responsibility on Islamic values, hence shunning interest models-which means reliance substantially on fairness, transparency, and ethical investment.

As Salama grew, it gradually spread beyond the UAE to establish itself as a name to reckon with across markets in the Middle East, North Africa, and parts of Asia and Africa. Key regional subsidiaries include Tariic Holding Company in Bahrain, Misr Emirates Takaful Life Insurance in Egypt, and Salama Immobilier in Senegal. Each unit of Salama adds up to the ultimate goal of the company in terms of propagating Takaful insurance as a new, viable alternative for conventional models, and each operation brings Takaful benefits to local markets to cover regional insurance needs.

Besides its motive of serving clients, industry accolades have been bestowed on the company. One of its notable trophies was in 2012 when Salama was crowned “Best Takaful Company in the Middle East” at the International Takaful Awards. This recognition reaffirmed Salama’s position in the industry and restated its commitment to excellence in Shariah-compliant financial services. Salama was also acknowledged for its customer-centric strategy that has been the critical factor of its success over the years. Today, Salama’s policies stand at AED 10 billion in coverage, enforcing its capability to build high value solutions in keeping with its values.

Salama’s growth in the past has been both geographically and within innovation, where continuous contributions to innovation are involved. In years, the company adapts its services to an ever-changing customer expectation of the dynamic landscape in the insurance sector. This is among some distinguishing factors for Salama. The company’s diversified product portfolio comprises family Takaful, health, and general insurance, each of which is built on principles of transparency, mutual aid, and trust. These values Salama applies to the clients have withstood the test of time: today, they rely on the firm as their trusted partner in securing their financial futures.

The corporate values driving Salama are reflected in the visionary leadership of its founder and successive management teams who have upheld Islamic principles in every aspect of the business. Contributing to community welfare, Salama is more than an insurance company; it is a company that believes in giving back to society, as reflected in Takaful philosophy. This focus on social responsibility translates well for the concerned customers of ethical and principled financial products. In turn, this helps the company achieve market share despite growing competition.

In the future, Salama Islamic Arab Insurance Company’s aggressive pursuit of positioning Takaful insurance as a familiar household name across the globe will help reinforce best practices that support individuals and wider communities at large. With a heritage, commitment to compliance with Shariah, and a clear vision for the future, Salama is not only a leader in Takaful insurance but is also synonymous with trust, reliability, and innovation in Islamic finance. Nearly five decades of legacy speaks to the commitment that the company has to the financial well-being of its policyholders while standing up to genuine Islamic values.