Abdul Samad has been awarded Ph.D by the Osmania University for his thesis on “Performance of Bancassurance – a Study of Select Banks”. He was guided by M. Akbar Ali Khan, Vice Chancellor, Telangana University.
The research studied the concept of ‘BancTakaful’ – a new concept of ‘Bancassurance’ (Banks selling insurance). ‘Bancassurance’ is a partnership between banks and insurance companies to sell insurance products through bank channel. ‘BancTakaful’ is equivalent of ‘Bancassurance’ in Islamic insurance. Here members contribute money tin a pooling system in order to guarantee each other against loss or damage. The study concludes that customers are happy with the banks starting their own insurance companies, a statement said.