Allied Insurance of the Maldives has won two prestigious awards at the 11th Islamic Finance Forum of South Asia (IFFSA) Awards.
At the IFFSA ceremony held on the 20th of this month at the Shangri-La hotel in Colombo, Sri Lanka, Allied’s Islamic window, Allied Takaful, won the “Islamic Finance Entity of the Year” award, while “Kamana Takaful” won the “Islamic Finance Product of the Year” award.
Organised by UTO EduConsult under the theme “Building Legacies”, the ceremony brought together finance and Islamic banking professionals, financial institutions and key stakeholders from across South Asia to recognise notable achievements in the region’s Islamic banking and finance sector.
Allied said the awards were the result of significant steps its management took in 2025 to expand and develop its takaful business. In particular, the company highlighted its decision to stop selling conventional life insurance products and introduce Family Takaful as a life protection solution.
According to Allied, the awards received by Allied Takaful and the Kamana Takaful plans are a strong testament to its continued commitment to expanding takaful services, raising public awareness and advancing Islamic finance in the Maldives.
As part of its increased focus on takaful, Allied has also configured its app so that new customers see only takaful options, with the conventional insurance section hidden.
Allied said that, alongside these measures, major marketing campaigns conducted in the country’s largest cities to raise customer awareness and engage communities had led to substantial growth in takaful revenue in 2024 and 2025.
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