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.”


Ras Al-Khaimah to host Mideast’s first ‘business Oscars’

Updated 16 September 2019

Ras Al-Khaimah to host Mideast’s first ‘business Oscars’

The Stevie Awards, known widely as the “business Oscars,” has reached an agreement for a strategic partnership with Ras Al-Khaimah Chamber of Commerce and Industry (RAK Chamber) for the first annual Middle East Stevie Awards to be held in Ras Al-Khaimah in February 2020.
The Middle East Stevie Awards will recognize innovation in the workplace from across 17 MENA countries and the awards program and gala prize-giving ceremony will be held in Ras Al-Khaimah for the first three years and at least every other year thereafter. The announcement was accompanied by a call from Stevie Awards for entries for the inaugural edition.
“Hosting the inaugural edition of the Middle East Stevie Awards here in Ras Al-Khaimah is a significant accomplishment, and another noteworthy milestone to add to the emirate’s successful track record, continuing on the same path of progress that has been taking place across all sectors, in line with the directives of our wise leadership,” said Mohamed Ali Al-Nuaimi, chairman of RAK Chamber.
“I was extremely gratified when the RAK Chamber approached us about partnering with them on a new Stevie Awards program for the Middle East and North Africa,” said Michael Gallagher, founder and executive chairman of the Stevie Awards. “We have recognized the achievements of executives, entrepreneurs, and organizations across the region for many years in our other programs. The time is right for the region to have its own Stevie’s program. We are excited to launch the Middle East Stevie Awards, and look forward to the first gathering of Stevie Award winners in the program in Ras Al-Khaimah in February.”