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Jul 2013 Qatar Islamic Bank (QIB) has designed a new life insurance product in conformity with the principles of takaful insurance. Marketed under the name "Family Shield Platinium", the product, designed for nationals and expatriates, enables the underwriter to protect his family in the event of critical illness, partial or total disability and death. According to the options available, the underwritten capital may attain 10 million QAR (2.7 million USD) while basic guarantees are provided for tariffs deemed competitive. QIB has joined Damaan Islamic Insurance for the marketing of this policy.