Al Rajhi Takaful launches 'Thamara' savings and protection program

Al Rajhi Takaful has introduced Thamara, a pioneering program in Saudi Arabia that merges takaful protection with long-term savings and investment. This innovative savings and protection program provides customers with the ability to construct financial plans tailored to their future aspirations. Al Rajhi Takaful offers five funds with varying maturity dates, allowing clients to choose the fund that aligns best with their anticipated financial needs.

Thamara caters to individuals and families across different stages of financial planning, with a specific emphasis on those embarking on their savings journey—whether for milestones like marriage and homeownership, or for long-term objectives such as children's education and retirement planning.

Saud bin Ghunaim, Chief Executive Officer of Al Rajhi Takaful, remarked on the launch: "The Thamara program reflects our vision to develop solutions that support our customers throughout different life stages, giving them options to prepare for the future and build their savings based on clear, long-term goals." He further stated, "At Al Rajhi Takaful, we continue to develop products that combine value for the customer with their evolving needs, helping to promote a culture of planning and saving, and offering more diverse solutions for individuals and families in the Kingdom."

Thamara extends takaful coverage throughout the policy period, safeguarding against the risks of death and total disability, as per the chosen coverage and policy terms and conditions. This support offers financial assistance to beneficiaries in the event of covered risks. The funds are expertly managed through a smart investment approach, which considers each fund's time horizon and gradually adjusts the asset allocation over time.

This strategy shifts toward less volatile investment options as the maturity date approaches. The introduction of Thamara aligns with Al Rajhi Takaful's strategy to broaden its portfolio of solutions and develop products that align with the evolving requirements of customers and the market in Saudi Arabia.