Tamkeen Insurance implements SAM Corporate’s IFRS17 solution

By Delisha Fernandes

Tamkeen, a Palestinian insurance company providing an array of insurance services, has announced integrating SAM Corporate’s IFRS17 solution into its business operations.

Mohammad Alremawi, GM Tamkeen Insurance, said “Accomplishing this task presented significant challenges stemming from various requirements, whether its calculations or disclosures. I am grateful to our expert team, who led the planning and implementation within the stipulated timeframe. While we initially contemplated selecting the optimal solution.”

Alremawi added, ” I can now affirm that it stands as one of the most successful choices in our journey towards IFRS17 compliance, and our positive impression that was created by SAM Corporate’s team at the early stages of our project was right.”

SAM Corporate is a FinTech provider in Corporate Performance Management (CPM) and digital finance space in the Middle East, combining its winning strategy of solution domain expertise, skilled advisory team, and experience in implementing a large number of projects in different industry segments.

Ala Karrain, Managing Director of Allied Actuarial Consultancy (AAC), said “Highlighting the significance of International Financial Reporting Standard 17 (IFRS 17) on actuarial services within the region, the key difficulty arises from the need to precisely depict liabilities while maintaining consistent measurement. This underscores the essential requirement for a comprehensive grasp of IFRS principles.”

Karrain added, “Our successful navigation of this challenge has been made possible through effective cooperation with our valued client, Tamkeen, and the innovative solution delivered by our esteemed partner, SAM Corporate. “