OJSC Eldik Bank and CJSC Insurance Company “Kyrgyzstan” have signed a cooperation agreement on the Takaful(Islamic insurance) product

OJSC Eldik Bank and CJSC Insurance Company “Kyrgyzstan” have entered into a partnership in the field of Islamic insurance. Within the framework of this cooperation, citizens of our country will have the opportunity to obtain insurance under the Takaful system — a Sharia-compliant model that excludes elements of riba (interest), gharar (uncertainty), and maysir (gambling).

Representatives of Eldik Bank note that the launch of the Takaful product reflects the bank’s commitment to continuously expanding its range of ethical financial products and meeting the needs of clients interested in Islamic finance.

“We are confident that our cooperation with Insurance Company ‘Kyrgyzstan’ on the Takaful product will give a strong boost to the development of Islamic finance in the region. This partnership will serve as a reliable instrument of protection and trust for our clients,” — said Ester Aimukambetov, Head of the Islamic Window at OJSC Eldik Bank.

The parties plan to further develop their partnership by expanding the range of joint offerings for clients and strengthening their presence in the Islamic financial services segment.