The AMPRO Takaful Scheme

In 1995 AMPRO organised the first-ever conference on Islamic Insurance, Finance and Banking in Singapore. The event was officiated by the then Minister In-charge of Muslim Affairs, Mr Abdullah Tarmugi. The event also witnessed the signing of an MOU between AMPRO and NTUC Income for the launch of the AMPRO-INCOME Takaful Fund - a family Takaful scheme.

The AMPRO-Income Takaful Fund was launched in September 1995. The fund size grew to S$45 million within five years of operation. This paved the way for AMPRO and other groups in Singapore to introduce more Islamic financial products to the market.

In 1998 AMPRO developed a financial solutions prototype called the Islamic Electronic Financial Solutions or i-EFS. This solutions engine is designed to assist in the identification or assessment of Halal investment securities.

In 2006 AMPRO launched a General Takaful scheme in partnership with the United Overseas Insurance (UOI), the insurance arm of the United Overseas Bank (UOB) Group. Seven General Takaful products were launched.

In the same year AMPRO also collaborated with UNIRISX, an ASP company in the United Kingdom to develop an operating platform for Takaful business. Please visit www.unirisx.com to get more information about the system.

About AMPRO Takaful Products

AMPRO's strength lies in its ability to design Islamic Insurance or Takaful products. We had in partnership with several established financial institutions developed several takaful schemes for the Singapore Muslim market. Our insurance partners underwrite and market the takaful products. The following are 2 Takaful products that have been successfully launched:

1) AMPRO-INCOME Takaful Fund

Launched in 1995 in partnership with NTUC-INCOME, the scheme offers both protection and investment opportunity to policyholders. An investment-linked product, its unique features include the following:
96.5% of the premium or contribution goes directly towards investment. Payment in the event of death will not be less than twice the amount of the original contribution. Use of CPF savings is allowed for the scheme.

For more information about the scheme, its fund size and price, please visit www.income.com.sg.

2) AMPRO-UOI General Takaful

In partnership with United Overseas Insurance, the scheme was launched in 2006. For a start, the scheme offers Takaful coverages for Motorcar Owners, Domestic Helpers and Travellers.

For more information about the scheme, its coverages and unique features, please visit www.uoi.com.sg.