#CulturePH - Pru Life UK Launches Takaful Education Roadshow in Davao and Cagayan de Oro

Pru Life UK, the first insurer in the Philippines to receive a Takaful or Islamic insurance license, is on a mission to educate and engage communities about Shari’ah and Takaful. The company recently kicked off its Takaful education roadshow with pilot sessions in Davao City and Cagayan de Oro, aiming to enhance understanding of Islamic insurance principles and foster collaboration with key stakeholders.

Bringing Financial Inclusion to More Filipinos

The Takaful journey aligns with Pru Life UK's mission to enhance financial inclusion for Filipino families by offering insurance products that comply with Islamic rules and principles. This initiative is set to benefit thousands of students from Luzon, Visayas, and Mindanao over the next year and a half.

Educational Sessions and Community Engagement

The roadshow has already provided over 200 agents, community leaders, and media members with valuable insights into Islamic finance, Shari’ah rules, and the unique features of Takaful. Atty. Paul Mandal, Pru Life UK's Senior Vice President and Chief Legal, Government Relations, and Sustainability Officer, emphasized the company's commitment to creating meaningful financial solutions for all Filipinos. "The introduction of Takaful will open doors for millions of Muslim and non-Muslim Filipinos who previously had limited access to insurance products," he shared.

Expert Insights and Training

During the education sessions, Maricel Estavillo, Pru Life UK's Vice President for Government Relations & Sustainability, discussed Takaful, while Atty. Mehol Sadain, a Senior Professorial Lecturer at the Institute of Islamic Studies, University of the Philippines, covered Islamic finance and Shari’ah principles. The company also held sideline meetings and dialogues with stakeholders from Muslim Filipino communities and the religious sector.

Supporting Government Goals

Pru Life UK's Takaful offering supports the Philippine government's goal of expanding Islamic finance, especially in regions with large Muslim populations such as Mindanao. This initiative addresses the gap in the Islamic financial system by introducing a life insurance product that adheres to Shari’ah-compliant principles of mutual cooperation, risk-sharing, and ethical considerations.

Reaching Underserved Communities

Pru Life UK aims to serve nearly seven million Muslim Filipinos across the country, particularly in underserved communities like the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) and the Zamboanga Peninsula. Takaful is also set to broaden insurance options for non-Muslims in the country.

For more information about Pru Life UK and its initiatives, visit www.prulifeuk.com.ph.

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