Beema Partners with PayLater

Doha, Qatar — Damaan Islamic Insurance Company (Beema), a leading provider of Islamic insurance (Takaful) in Qatar, has entered into a strategic partnership with PayLater, the country’s first QCB-licensed, Shariah-compliant “Buy Now, Pay Later” (BNPL) service  . This collaboration represents a key pillar in Beema’s long‑term digital and fintech transformation strategy.

Partnership Overview

Under the agreement, Beema customers will be able to access an interest-free installment payment option for all Takaful products. The BNPL facility allows premiums to be paid in four equal installments, available both online and at Beema’s physical branches.

Strategic Significance

• Enhanced Accessibility & Flexibility
  The new BNPL option enables customers to manage insurance payments more conveniently while adhering to Islamic finance principles. It reflects a shift toward greater financial inclusion and flexibility in insurance services.
• Digital Transformation in Takaful Services
  This initiative underscores Beema’s commitment to leveraging fintech to modernize the insurance sector. By integrating PayLater’s Shariah‑compliant digital payment solution, Beema aims to enhance customer experience, operational efficiency, and accessibility.

Market Context

• PayLater’s Positioning
  PayLater is Qatar’s first BNPL platform licensed by the Qatar Central Bank, offering fully Shariah‑compliant, interest-free installment solutions. With this expansion into insurance, PayLater continues to extend its mission of embedding responsible, digital financial services into key sectors of daily life.
• Expanding Digital Finance in Qatar
  This partnership aligns with a broader trend in Qatar’s financial landscape—adoption of digital payment systems across diverse sectors. It follows PayLater’s earlier collaboration with beIN MEDIA GROUP, enabling interest-free installment purchases for beIN products.

Looking Ahead

This launch marks a significant milestone in Qatar’s fintech and Islamic finance sector. By making insurance payments more manageable, Beema and PayLater are setting new standards for digital excellence and customer-centric innovation in Takaful services. As consumer demand for flexible, Shariah-aligned payment options grows, similar collaborations may emerge—further driving transformation across the insurance and fintech industries.