Business insurance · United Arab Emirates
Salama (Islamic Arab Insurance)
Dubai-listed takaful insurer with engineering, employee compensation and liability cover
Market position
Salama Islamic Arab Insurance Company is a Shariah-compliant (takaful) insurer based in Dubai, listed on the Dubai Financial Market and regulated by the Central Bank of the UAE; it says it has operated for more than 45 years and protects 450,000 customers. Its engineering and construction line covers Contractor's All Risks, Erection All Risks, Contractor's Plant and Machinery, Machinery Breakdown and Electronic Equipment, and its property and casualty line adds employee compensation, employee liability and public liability.
United Arab Emirates-specific note
Relevant when a contractor or client requires Shariah-compliant (takaful) cover instead of conventional insurance; Salama offers both the engineering covers and employee compensation and public liability.
Pros
- + Shariah-compliant takaful cover for contractors who need it
- + Engineering set (CAR, EAR, plant, machinery breakdown, electronic equipment) plus employee compensation and public liability
- + Listed on the Dubai Financial Market and regulated by the Central Bank of the UAE
- + Quotes by phone (800-725262) or email
Cons
- − No public premiums; every policy is quoted
- − Shareholders approved a capital restructuring in October 2025
- − Product pages list covers only, so ask for full policy wordings
Typical United Arab Emirates pricing
Quote-based; no public premiums. Salama takes quote requests by phone (800-725262) or email.
Why this matters for United Arab Emirates trades
Under Dubai Law No. 7 of 2025, contracting work in Dubai needs a trade licence and entry in Dubai Municipality’s Contractors Register, while federal MOEI e-qualification covers only MOEI’s own engineering projects. VAT is 5%, with registration mandatory once taxable supplies and imports exceed AED 375,000 over 12 months. E-invoicing follows a decentralised model based on the OpenPeppol standard: under Ministerial Decision No. 244 of 2025, as amended by Ministerial Resolution No. 66 of 2026, each business appoints an Accredited Service Provider from the Ministry of Finance list (by 30 October 2026 for revenue of AED 50 million or more, implementing by 1 January 2027; by 31 March 2027 for smaller businesses, implementing by 1 July 2027). MOHRE sets Emiratisation targets for companies with 50 or more employees and for companies with 20-49 employees in 14 sectors, and in Abu Dhabi a building permit needs an Estidama Pearl rating (at least one Pearl for private projects, two for government-funded ones).
UAE construction and trades software selection is shaped by 5% VAT filed with the Federal Tax Authority through EmaraTax, the phased e-invoicing mandate run through accredited Peppol service providers (under Ministry of Finance decisions, businesses with revenue of AED 50 million or more implement it by 1 January 2027 and smaller businesses by 1 July 2027), MOHRE Emiratisation targets, separate regulatory systems in Dubai (Dubai Municipality’s Contractors Register and its BIM requirement for large and specialised buildings) and Abu Dhabi (DMT classification, permits and the Estidama Pearl rating), and AED pricing.
Frequently asked
Is Salama (Islamic Arab Insurance) a good fit for United Arab Emirates trades?
Salama Islamic Arab Insurance Company is a Shariah-compliant (takaful) insurer based in Dubai, listed on the Dubai Financial Market and regulated by the Central Bank of the UAE; it says it has operated for more than 45 years and protects 450,000 customers. Its engineering and construction line covers Contractor's All Risks, Erection All Risks, Contractor's Plant and Machinery, Machinery Breakdown and Electronic Equipment, and its property and casualty line adds employee compensation, employee liability and public liability. Relevant when a contractor or client requires Shariah-compliant (takaful) cover instead of conventional insurance; Salama offers both the engineering covers and employee compensation and public liability.
What does Salama (Islamic Arab Insurance) cost in United Arab Emirates?
Quote-based; no public premiums. Salama takes quote requests by phone (800-725262) or email. Pricing and availability can change by region; confirm current United Arab Emirates pricing on the vendor's site before committing.