Allied Takaful and Kamana Takaful receive top honours at South Asia’s Islamic finance awards

Allied Insurance Company of the Maldives has won two awards at the 11th Islamic Finance Forum of South Asia (IFFSA) Awards 2026, held last week in Colombo, Sri Lanka.

At the ceremony, Allied’s Islamic window Allied Takaful was named Islamic Finance Entity of the Year, while Kamana Takaful received the award for Islamic Finance Product of the Year.

The awards were presented on 20 October 2026 at Shangri-La Colombo. The annual event, organised by UTO EduConsult under the theme “Building Legacies,” brought together Islamic finance institutions, industry professionals and regional stakeholders to recognise outstanding achievements in South Asia’s Islamic banking and finance sector.

Allied said the recognition reflects key initiatives undertaken in 2025 to strengthen and expand its Takaful business. Among these was the strategic decision to discontinue conventional life insurance products and offer Family Takaful as its life protection solution. The company also removed conventional life insurance options from the Allied app for new customers, making Takaful the only visible choice.

Allied said its focus on Takaful was further supported through digital upgrades, marketing campaigns, customer education programmes and community engagement activities across major cities in the Maldives. These efforts contributed to a significant increase in Takaful revenue from 2024 to 2025.

The company stated that the awards for Allied Takaful and Kamana Takaful reflect its continued commitment to expanding Takaful services, enhancing public awareness and supporting the growth of Islamic finance in the Maldives.