Allied Wins Top Islamic Finance Honours at IFFSA

Maldives' largest insurer, Allied Insurance Company, has won two accolades at the 11th annual Islamic Finance Forum of South Asia (IFFSA) Awards.

The ceremony was held on Tuesday, 20 October 2026, at the Shangri-La Hotel in Colombo, Sri Lanka. Organised by UTO EduConsult under the theme "Building Legacies," the forum brought together industry leaders from across the region.

Allied's Islamic finance division, Allied Takaful, was named Islamic Finance Entity of the Year, while its women-centric plan, Kamana Takaful, clinched Islamic Finance Product of the Year.

The company stated that the honours recognise strategic initiatives implemented throughout 2025 to develop and expand its Shariah-compliant portfolio. Central to this strategy was the decision to phase out conventional life insurance products and position Family Takaful as the insurer's primary life protection offering. Digital operations were updated in parallel, aligning the Allied Mobile App so that new retail users are guided towards Takaful options.

These structural adjustments were supported by awareness drives, marketing campaigns, and community engagement initiatives conducted across major Maldivian cities, which together drove growth in Allied's Takaful revenues from 2024 to 2025.