Grameen-Jameel, AXA to provide micro insurance

Updated 07 December 2012

Grameen-Jameel, AXA to provide micro insurance

AXA Mediterranean and South America region (AXA MedLA), a subsidiary of AXA Group, and Grameen-Jameel Microfinance Ltd., one of the largest private supporters to microfinance institutions in MENA and Turkey, have signed a memorandum of understanding (MoU), to jointly provide micro insurance solutions for clients in the region.
The objective of this partnership is to capitalize on AXA’s insurance expertise and Grameen-Jameel’s microfinance proficiency offering insurance products to microfinance clients. The MoU was signed by Jean-Laurent Granier, CEO of AXA Mediterranean and Latin American Region and chairman and CEO of AXA Global P&C Line of business, and Zaher Al-Munajjed, chairman, Grameen-Jameel Microfinance Ltd. in the presence of Fady Abdul Latif Jameel, president of Abdul Latif Jameel Community Service Initiative and Grameen-Jameel board director.
AXA’s micro insurance products would be delivered by leveraging Grameen-Jameel’s microfinance network, proposing insurance products to their microfinance clients. By accessing protection covers against any form of casualty, working disability or unexpected events, such as floods or fires, micro-entrepreneurs and their families will be protected and able to pursue their day to day activities.
“We are very proud to become the first global insurance provider to develop a micro insurance offering for MENA microfinance clients, through the network of Grameen-Jameel Microfinance Ltd. As a leading insurer, our role is to protect our clients and allow them to develop their projects, their businesses and plans for their beloved one’s future.” said Granier.
He added: “It is all the more important that we support those who are more fragile and need more protection. We are very happy to launch this partnership with an experienced and respected organization such as Grameen-Jameel, in a region where we have been present for many years and in which we want to grow further.”
Al-Munajjed said: “Grameen-Jameel is delighted to partner with a renowned global insurer such as AXA. With over 80 million individuals living in poverty in the MENA region, the demand for micro credit and micro insurance particularly is critical to help alleviate poverty. Many microfinance clients have been left in financial ruin and with no indemnity after the unfortunate death of the breadwinner of the family. Now, micro entrepreneurs can have assurance that their families are protected and will not carry the debt burdens in the event of death.”


Al-Dabbagh Group Ranked sixth on Kingdom of Saudi Arabia’s Great Place to Work List

Updated 04 June 2020

Al-Dabbagh Group Ranked sixth on Kingdom of Saudi Arabia’s Great Place to Work List

Jeddah, Saudi Arabia: Al-Dabbagh Holding Group, founded in 1962, has been ranked sixth in the Saudi Arabian private sector's best working environments for the year 2020. The ranking is compiled by Great Place to Work, a leading global organization that evaluates work environments across more than 60 countries.
This achievement comes in recognition of Al-Dabbagh Group's efforts toward creating and fostering a positive working environment for all. Employees participated in a questionnaire on work-place satisfaction, and the company policies were also subject to an external review, both of which contributed to the resulting ranking.
Al-Dabbagh Group’s Head of Human Resources, Hayfa Abu-Zabibah has said that "this achievement is the result of the Group's unique culture, derived from the philosophy of Omnipreneurship, which embraces comprehensive leadership and is made up of three principles (Giving, Earning and Sustaining) five values (integrity, passion, respect, forward-thinking, teamwork) and ten golden rules. The principles, values and golden rules provide the framework that govern the Group’s ecosystem and culture.”
Hayfa added that receiving this award will only increase the Group’s motivation to further promote this ecosystem and continue efforts toward becoming a better place to work.