Allied wins two international Islamic finance awards at IFFSA Awards 2026

Allied Insurance Company of the Maldives has won two prestigious international awards in the field of Islamic finance. The company received the honours at the 11th Islamic Finance Forum of South Asia (IFFSA) Awards 2026, held last Tuesday at the Shangri-La Hotel in Colombo, Sri Lanka. Allied's Islamic window, 'Allied Takaful', was named 'Islamic Finance Entity of the Year', while 'Kamana Takaful' received the 'Islamic Finance Product of the Year' award. The ceremony, organised by UTO EduConsult under the theme 'Building Legacies', brought together industry experts, financial institutions and key stakeholders from the region to celebrate notable achievements in Islamic banking and finance in South Asia. Allied said the awards reflect significant steps taken by the company's management in 2025 to grow and develop its Takaful business. Among the most important was a decision to stop selling general life insurance products and adopt 'Family Takaful' as a life protection solution. The company also noted that through the Allied App, new customers are presented with Takaful services only, with general insurance options reduced, highlighting a digital focus on Takaful. According to Allied, extensive marketing campaigns in the Maldives' larger islands, customer awareness drives and community-related activities contributed to significant growth in Takaful revenue from 2024 to 2025. Allied said the international recognition received by Allied Takaful and Kamana Takaful products is testament to its ongoing efforts to expand Takaful services, raise public awareness and advance the Islamic finance sector in the Maldives.