AlHuda Centre of Islamic Banking and Economics (CIBE) UAE, a globally renowned advisory and capacity-building institution in Islamic finance, has signed a strategic agreement with Solus Insurance Brokers DMCC, a leading insurance brokerage firm in the UAE.
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 specialized Reinsurance Consultancy & brokerage needs, founded on a shared commitment to providing sophisticated, ethical, and compliant financial products.
This partnership establishes a strong and constructive collaboration, combining AlHuda CIBE’s deep expertise and global reputation in Islamic banking and economics with Solus’s capabilities in delivering tailored Reinsurance solutions. Together, they aim to offer clients a more comprehensive service portfolio that meets both financial and ethical needs, while enabling Solus to tap into AlHuda CIBE’s diverse international network.
Both organizations have emphasized their commitment to the highest standards of regulatory compliance and business ethics. The non-exclusive structure of the agreement preserves their operational independence while fostering long-term collaboration, reflecting a shared confidence in the enduring value and impact of this strategic alliance.
Srinivasan Chalapathi Executive Director Solus Insurance Brokers
“We are thrilled to formalize 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.”
Zubair Mughal, CEO of AlHuda Centre of Islamic Banking and Economics (CIBE), noted that, “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.”
