On 25th October 2003, First Finance Company (FFC) signed an agreement with Qatar Islamic Insurance Company (QIIC) whereby QIIC would provide Takaful cover under its “ Hemaya “ program for FFC’s personal finance portfolio.

On signing the agreement, Mr. Abdul-Razak M. Al-Siddiqui, FFC’s General Manager, explained that the “ Hemaya “ Takaful program would provide assurance and peace of mind to the company’s customers and their dependents for under the cover, QIIC takes full responsibility for settling each and every debt outstanding in the event of the customer’s death or total disability resulting from illness or accident so that no financial obligation is passed on to his / her family, heirs or guarantor (s) .

Mr. Izzat M. Al Rashid, QIIC General Manager, expressed utmost satisfaction for concluding this agreement with FFC, the country’s premier provider of personal finance, with customer accounts exceeding 10,000 and unparalleled annual growth in operations.

The “ Hemaya “ cover is one of QIIC’s Takaful insurance products ( the Islamic alternative to life insurance ). These products have been approved by the Islamic Fiqh Academy ( Macca ), Grand Sharia’ Scholars Panel ( Kingdom of Saudi Arabia ), European Fatwa and Research Council, Sharia Organizations and Supervisory Boards in the Islamic countries and the Sharia’ Supervisory Board of Qatar Islamic Insurance Company (QIIC).