Pru Life UK Teams Up with Al Amanah Islamic Investment Bank for Islamic Financial Education and Promotion

Pru Life UK, after receiving its Takaful operator license, has formed a partnership with Al Amanah Islamic Investment Bank of the Philippines (AAIIBP) to promote Islamic finance and Takaful through financial education and capacity-building initiatives.

This collaboration aims to expand financial inclusion, particularly in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), benefiting more Filipino communities.

Takaful, a Shariah-compliant insurance concept based on joint guarantee and mutual solidarity, is central to the initiative. Atty. Paul Mandal, Chief Legal, Government Relations, and Sustainability Officer at Pru Life UK, emphasized the company's commitment to providing financial protection to Filipino families and addressing the financial education gap, especially within Muslim communities.

Pru Life UK is also preparing to introduce a Shariah-compliant insurance product (pending regulatory approval) to support the Philippine government’s financial inclusion efforts and help both Muslim and non-Muslim Filipinos achieve financial security.

As the first Islamic bank in the Philippines, AAIIBP is dedicated to advancing financial inclusion through Shariah-compliant solutions. AAIIBP Chairman & CEO Amilbahar Amilasan, Jr. expressed excitement over the collaboration, highlighting its potential to uplift Muslim communities and empower them to contribute to the nation’s development.

This partnership represents a significant step toward building a financially inclusive and resilient Philippines, with Pru Life UK also launching initiatives like the “Adopt-a-Madrasah Programme” in Davao City, covering over 450 students and teachers. The company plans to expand its financial education efforts, particularly in Mindanao, in the coming year.

For more updates on Takaful initiatives, visit Pru Life UK Takaful.