THE Stronghold Insurance Company Inc. (SICI) has forged an agreement with Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP) to further promote and deliver non-life insurance products, especially to Muslim communities in Mindanao.

In a Memorandum of Agreement (MOA) signed on Tuesday, December 6, both parties agreed for a mutual partnership and collaboration that aims to promote and advance the importance of non-life insurance.

As part of the deal, Stronghold will open an account with Al-Amanah Bank where premiums collected from the clients are deposited.

SICI Vice President Jose Vallejos Jr. said the deal will pave the way for the company to expand and penetrate in Muslim areas in Mindanao.

He said through the MOA, the company is seeing an increase of clients as Al-Amanah Bank will help promote Stronghold's insurance products to its clients.

"Kami yung unang accredited non-life insurance company na partner ng Al- Amanah," he said.

"Kung insured sa Stronghold ang mga clients ng Al-Amanah magkakaroon po sila ng financial protection at magtitiwala sa amin kasi ii-endorse kami ng Al-Amanah Bank," he added.

Al-Amanah Bank Chairman Alex Bangcola said part of the MOA is a mutual marketing program between the two parties.

"We will help them market their insurance policies in Muslim areas," Bangcola said.

The AAIIBP is a government and Islamic bank authorized by law to conduct Islamic Banking in the Philippines.

"The MOA signing is just the start of the relationship and partnership. We need to move forward and put this into concrete terms," he added. (NMDS Staff)