New prayer hall at upgraded Masjid Al-Khair

Source: Masjid Al-Khair web page. View of Masjid Al-Khair.

The Mufti of Singapore, Dr Mohamed Fatris Bakaram, has consecrated the new prayer spaces of Masjid Al-Khair at Teck Whye Crescent, the Islamic Religious Council of Singapore (Muis) has reported. 

The addition of a new prayer hall on the third level has added 500 prayer spaces, increasing total praying capacity to 4,000.

In addition to more comfortable praying areas, congregants can enjoy upgraded classrooms for Islamic learning. The upgraded mosque is now more accessible with a lift going to all floors. Other new features include an enhanced facade, improved roof waterproofing and electrical wiring works as well as the installation of a new audio visual system.

A new interactive wall panel highlighting the importance in understanding the inherent meaning behind the Quran was also unveiled by Mufti Dr Mohamed Fatris. This project was conceptualised to appeal to the younger generation and encourage interest in the knowledge of tafsir (تفسير‎), or interpretations of the Quran. Using augmented reality, the panels depict information regarding muffasir (expert writers of commentaries) on the Quran. 

Takaful Emarat announces website revamp

Takaful Emarat, the DFM-listed, shari'ah-compliant life and health insurer, has announced a revamp to its website to offer more capabilities for customers. Takaful Emarat has seen an increase in visits to its website over the last year and sees this investment in technology, which is funded through the proceeds of its recent rights issue, as the next step in its innovation strategy and growth trajectory.

The expansion of accessibility to insurance through technology supports the growth of the global takaful insurance market, which is expected to reach US$20 billion, up from current estimates of US$14 billion, according to research by EY. Demographics in the MENA region support insurance growth particularly in personal lines, which currently make up 16% of the market, compared with 56% globally, according to the Qatar Finance Centre.

The website refresh will be delivered in two phases. The first phase focuses on offering customers easy access to product information and a modernised feel while the second phase, which is due to come online in the second half of 2016, will encourage customers to have a digital dialogue with Takaful Emarat by requesting insurance quotes and filing claims online. From a corporate perspective, investors have a more transparent insight into the company’s financial performance, with a comprehensive library of financial reports, up-to-date stock prices, governance structure, details about the management, company strategy and business model underpinning its performance as a one of the fastest growing companies in the UAE’s takaful insurance sector.

The platform offers real-time access to a fund’s performance and financial reporting tools. In the second half of the year, Takaful Emarat customers will be able to play an active role in managing their own policies online by adding or deactivating policy features as required and filing claims from a desktop or from the smartphone-enabled website. In this second phase of the website revamp, Takaful Emarat will also be able to offer potential customers instant life or health insurance quotes 24x7.

The refreshed website, along with recently announced distribution agreements with RAK Bank and Emirates Islamic Bank, extends the company’s access to new customers by digitising processes that have traditionally been limited to office opening hours or the availability of financial consultants. It also appeals to the UAE population’s increasing inclination to transact using digital technology.

Takaful Emarat’s Chief Executive Officer Wael Al- Sharif said: “The digitisation of life and health insurance has great benefits for our existing customers who can manage their insurance needs at their own convenience and take a more proactive role in planning for their future. Increasing accessibility to information about suitable investments, savings and health and life plans through technology also helps the previously uninsured and lower-income consumers to take control of their finances and wider life plans. For our investors, the updated website provides essential information about the company’s performance and strategy, increasing our transparency to enable a more informed investment decision.”