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t'azur at a glance


t’azur Company b.s.c. (c) is a Bahraini closed joint stock company incorporated under the laws of the Kingdom of Bahrain and licensed and regulated by the Central Bank of Bahrain. t’azur was founded by Unicorn Investment bank with an authorised capital of US$ 500,000,000, of which US$ 58,000,000 is issued and paid up. t’azur provides Family and General Takaful products for individuals and businesses. All t’azur products abide by the principles of the Islamic Shari’a law and are under the supervision of t’azur’s Shari’a Supervisory Board.


t’azur’s ambition is to become the first truly regional Takaful Company, serving clients across the GCC, MENA region and beyond. Consequently, t’azur counts many leading institutions from all across the GCC among its founding shareholders.


Board of Directors

Sh. Dr. Abdul Aziz bin Naif Al Orayer


Dr. Ahmed Saleh Al Dehailan


Sh. Abdullatif Al Shalash

Non-Executive Director

Mr. Ayham Gharaibeh

Executive Director

Mr. Khalid Al-Subeai

Independent Non-Executive Director

Mr. Madi Al Khamis

Independent Director

Mr. Moamen Zahran

Independent Director

Mr. Nader Al Abdulrahman

Independent Non-Executive Director

Mr. Nabeel Noor Al Nabi

Executive Director

Mr. Zain Al Hamad

Executive Director

Chairman's Message


Since inception, t’azur has been a significant player in the Islamic Insurance industry and in fulfilling the needs of individuals and corporations by offering Shari’a Compliant products and services that deliver exceptional value and are tailored to suit the specific requirements of its discerning clients in Bahrain, Qatar and Kuwait, where t’azur is currently in full operation.

Despite many challenges as a new company, t’azur continues to be determined to expand and grow its operation in the GCC and have successfully overcome these challenges. t’azur’s priority has always been and continues to be the well-being of its Plan Owners.

Above all, the employees of t’azur believe that Islamic Insurance is far from being merely a set of products and services, but rather a means that brings the community together and t’azur pledges to help facilitate this cause. Hence, we strive to adhere to our motto “Together in Trust”.

We would like to thank The Central Bank of Bahrain, Bank Al Khair and our Shareholders for their continuous support.

Best Regard,

Sheikh Dr. Abdul Aziz Bin Naif Al Orayer

Chairman of the Board of Directors

Shari'a Supervisory Board


Dr. Abu Ghuddah, a Syrian national living at length in Saudi Arabia, is a member of the International Islamic Fiqh Academy in Jeddah and the Shari’a Board of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI).

Previously, Dr. Abu Ghuddah was a reporter for the Islamic Fiqh Encyclopedia at the Ministry of Awqaf and Islamic Affairs in the State of Kuwait.

Dr. Abu Ghuddah presently serves on the Shari’a Boards of many Islamic financial institutions, including Solidarity Group, Islamic International Rating Agency, Unicorn Investment Bank of Bahrain, Bank Al Jazia Takaful Ta’awuni, Dallah Albarakah Group of Saudi Arabia and Barclays Global Investors’ Shari’a Funds of UK.

Dr. Abu Ghuddah holds a Doctorate degree in Comparative Fiqh from Al Azhar University in Cairo, Egypt and a Law degree from the Damascus University in Syria.

Dr. Al - QurraDaghi, a Qatari national, is a Professor and Chairman of the Department of Jurisprudence and the Faculty of Shari’a Law and Islamic Studies at the University of Qatar.

Dr. Al - QurraDaghi is an eminent scholar at the Islamic Fiqh Academy of the Organization of Islamic Conference (OIC) in Jeddah, Saudi Arabia. In addition, Dr. Al - QurraDaghi is a founding member of many charitable organizations and international Islamic Jurisprudence bodies.

Dr. Al - QurraDaghi is the author of many research articles in contemporary issues in Islamic finance and banking. He has more than fourteen books published and six new books in various publication stages on a range of topics on Islamic Jurisprudence and Islamic Thought, with an emphasis on contemporary issues.

Dr. Al - QurraDaghi presently serves on the Shari’a Boards of many Islamic financial institutions inside and outside of Qatar, including Emirates Islamic Bank and Dubai Islamic Bank in the UAE; Investment House, Investors Bank and Unicorn Investment Bank in Bahrain; and First Investment in Kuwait.

Dr. Al - QurraDaghi holds a Doctorate degree in financial transactions from Al Azhar University in Cairo, Egypt, and a Bachelor’s degree in Shari’a studies.

Sheikh Yaqoubi, a Bahraini national, has been advising leading Islamic banks and financial institutions since 1989, including the Accounting and Auditing Organization for Islamic Financial Institutions (AAIOFI) in Bahrain.

Sheikh Yaqoubi is a member of several Shari’a Advisory Boards of many Islamic financial institutions inside and outside of Bahrain, including HSBC, Al Amanah, BNP Paribas, Dow Jones Islamic Index, Barclays Global Investors’ Shari’a Funds of UK, Solidarity Group and Unicorn Investment Bank of Bahrain.

Sheikh Yaqoubi holds a Bachelor’s degree in Economics and Comparative Religion from McGill University






  • Bank Alkhair

  • Emaar Al Bayader


  • Dimah Capital
  • Al Aman Investment Co.
  • The Securities House

  • The First Investor
  • General Retirement & Pension Authority




  • Chief Executive Officer Yahya Nooruddin
  • CEO Office Manager Assunta Roberts
  • Chief Financial Officer Ralph D’Souza
  • Sales & Marketing General Manager Marwan Sakhel
  • Manager Technical - General Takaful Rajesh Babu
  • Manager Motor Underwriting  Nada Hameed
  • Motor Claims Manager Adel Murad
  • Corporate Business Development Executive Jasim Al Baaz
  • Broker Relationship Manager Hassan Mahfoudhi

  • Medical Underwriting Manager Raj Pokkat
  • Regional Director Medical Sana Al Darazi
  • Life Underwriting Assistant Manager Yusra Mulla
  • Human Resources ManagerMohammed Al Nasser
  • Head of IT Mohammed Mortada
  • Corporate Communications ManagerAla’a Gerashi
  • Assistant Customer Service ManagerSumaya Al Siddiqi
  • Internal Auditor Afaf Al Othman
  • Sharia Officer Mustafa Al Mahmood
  • Quality Assurance Manager Husain Al Salman

Corporate Governance


t'azur has developed a set of Corporate Governance guidelines to promote the effective functioning of the board and its committees as well as for the benefit of its shareholders, customers, employees, and other stakeholders. These Corporate Governance guidelines t'azur follows is designed on the current business operations, ownership, capital structure, and economic conditions in mind. The regulatory requirements of the Ministry of Industry and Commerce (MOIC) and the Central Bank of Bahrain (CBB) are set as the benchmark to these guidelines..

This allows a suitable structure and process to be set in order to provide for proper organization and conduct of business which is based upon transparency, accountability, and the principles of fairness.



Board Composition

Good governance principles require independence, transparency and flexibility. The Board acknowledges the importance of Board structure and, as a consequence one of the Board's most important responsibilities is identifying, evaluating and selecting candidates for the Board of Directors.

The standing committees of the Board are the:

  • Executive Committee
  • Audit Committee, and
  • Nomination & Remuneration Committee.


The Board, upon recommendation of the Nomination & Remuneration Committee, will appoint committee members after consultation with the individual directors. The Nomination and Remuneration Committee is responsible for initially assessing whether a candidate would be an Independent Director. The Members of the Board of Directors will be elected for a three-year renewable term. An elected member of the Board may be re-elected upon the expiry of his term of office. t'azur will also ensure the Board of Directors will include at least two independent, non-executive members.


Roles of Board & Management

The business of t'azur is conducted by management under the oversight of the Board. The roles of the Board and management are related, but distinct. t'azur's business strategy is developed and implemented under the leadership and direction of the Chief Executive Officer (CEO) by its officers and other employees.



Board Conduct

The Board will ensure that policies are in place that prohibit (or strictly limit) potential conflicts of interest in cases such as:

  • Related party transactions
  • Potential misuse of corporate assets
  • Possible use of privileged information for personal advantage


A member of the Board or any manager may not have any interest, whether directly or indirectly, in transactions or contracts made for the account of t'azur, except with an authorization of the General Meeting. t'azur will also ensure that all directors must declare to the Board any personal interest, whether direct or indirect, he may have in matters brought before the Board. This declaration must be recorded in the minutes and the interested director may not participate in the debates or voting on the resolutions to be adopted in this respect.

In order to safeguard the interests of the stakeholders' t'azur will ensure that the Board will oversee the process of disclosure and communications with external stakeholders. The Board will ensure that disclosures made by t'azur are fair, transparent, comprehensive and timely and reflect the character of t'azur and the nature, complexity and risks inherent in t'azur's business activities.

t'azur will also ensure that the Board meets at least four times per year.




At A Glance

t’azur Company b.s.c. (c) is a Bahraini closed joint stock company incorporated under the laws of the Kingdom of Bahrain and licensed and regulated by the Central Bank of Bahrain.

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