x Abu Dhabi, UAEFriday 21 July 2017

Dollar-denominated and digital offerings from UAE banks

India's Life Insurance Corporation has tied up with First Gulf Bank to offer dollar-denominated products, while Emirates Money has relaunched its website.

India's Life Insurance Corporation (LIC) has tied up with First Gulf Bank (FGB) to offer dollar-denominated products to its customers in the UAE, including guaranteed return plans, traditional plans and unit linked plans in the life insurance and annuity segments. In return, LIC International will offer FGB customers the opportunity to invest in international capital and debt markets through its existing product range.

Over the next few weeks, FGB will market a series of products starting with traditional plans - Cash Back Plan, Jeevan Anand, Professional Education Plan and Jeevan Aastha 3 - and investment-plus-protection plans including the Fortune Builder and Gold Plus.

Mufazzal Kajiji, head of wealth management and Bancassurance at FGB, said: "Our partnership with LIC International will add to the diversity of our already solid Bansaccurance offerings, allowing us to deliver tailored solutions for the community. Our main aim through this cooperation is to provide comprehensive solutions that address the requirements of our customers, and their main concerns in protecting their loved ones and themselves."

R Thamodharan, the chief executive of LIC, said: "The tie-up with FGB is a big step forwards for LIC in ensuring that the protection needs of people in the community are addressed. LIC (I) has been a trusted life insurance company and has a proven record in claims settlement."


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Emirates Money, the consumer finance arm of Emirates NBD, has relaunched its website, www.emiratesmoney.ae, featuring enhanced navigation and search tools, which help users access information more quickly, while easily finding the best product solutions for their needs.

Online calculators have also been incorporated into the new website, offering customers the opportunity to instantly compute their monthly instalments or evaluate their interest payments.

The new website also features an appreciation & grievances portal, which allows customers to offer feedback and flag any questions they may have about their accounts. This feature also enables Emirates Money officials to respond quickly and offer solutions to any possible issues.

Vikas Thapar, the general manager of Emirates Money, said: "We always seek new ways to enhance our customers' online experiences, and make it easier for them to stay updated on the latest news and product information. We are very pleased to offer this new platform to assist our customers with finding the best possible solutions to their financing needs, while maintaining Emirates Money's level of unmatched customer service."

pf@thenational.ae