Allied Insurance Company of the Maldives won two awards at the 11th Islamic Finance Forum of South Asia (IFFSA) Awards 2026.
Allied Takaful, the company’s Islamic window, won Islamic Finance Entity of the Year. Kamana Takaful took Islamic Finance Product of the Year.
UTO EduConsult hosted the ceremony at Shangri-La in Colombo, Sri Lanka, on Tuesday, 20 October 2026. The event ran under the theme “Building Legacies.” It brought together industry professionals, financial institutions and other stakeholders from across the region. The awards honor achievement in Islamic banking and finance across South Asia.
The win follows a series of moves Allied made in 2025 to grow Takaful in the Maldives.
Its management stopped selling conventional life insurance products. Family Takaful replaced them as the company’s life protection solution.
Allied also reshaped its digital channels. It removed the conventional insurance option from the Allied app for new customers. New users now see only Takaful.
The company backed these changes with marketing and customer education. It also ran community events in major cities to raise the profile of Takaful in the Maldives.
Takaful revenue rose significantly between 2024 and 2025.
Allied says it will keep expanding the reach of Takaful in the Maldives and grow Islamic finance in the country.