Beema signs partnership with PayLater to enable Shari’a-compliant BNPL for insurance services

Doha, Qatar: Damaan Islamic Insurance Company, Beema, which is Qatar s leading Islamic insurance provider, has entered into a strategic partnership wi...

Doha, Qatar: Damaan Islamic Insurance Company,  Beema, which is Qatar’s leading Islamic insurance provider, has entered into a strategic partnership with PayLater; Qatar’s first QCB-licensed, Shari’a-compliant Buy Now, Pay Later provider, as part of its long-term fintech-driven transformation strategy.

The collaboration reflects Beema’s commitment to reshaping the insurance landscape through innovative, customer-focused digital solutions that enhance accessibility, flexibility, and the overall service experience.

Through this partnership, Beema will introduce a seamless, interest-free installment payment option for its range of Takaful products, allowing customers to pay premiums in four equal installments via PayLater, available both online and at Beema branches. This initiative empowers customers to better manage their insurance expenses while aligning with Islamic finance principles.

Commenting on the event, Nasser Rashid Al Misnad, CEO of Damaan Islamic Insurance Company – Beema, said: “This partnership with PayLater marks a key milestone in Beema’s ongoing digital transformation journey. By integrating innovative payment solutions into our services, we are not only enhancing customer convenience but also reinforcing our commitment to lead the insurance sector into a more accessible, technology-driven future. This step reflects our vision to continuously evolve, meet the changing needs of our customers, and set new benchmarks for digital excellence in Takaful services.”