Metropolitan Life Insurance Company has introduced a new product that provides options of savings for Moslems towards the financial requirements for Hajj. The ‘Labbaika Provider’ is a Sharia compliance policy which also provides an opportunity to save towards the increasing cost of children’s education as well as providing options for saving towards weddings amongst other benefits. The product also exists in some parts of Africa. During the product's launch in Accra Wednesday, the Chief Executive Officer of the company, Mr Frimpong Diop, said Labbaika, which means ‘I am here to respond to your call’, was chosen because the company wants to respond to the calls of the Moslem community in Ghana by providing them with services that otherwise would not have been available. The product has three components namely; cover for untimely death, investment benefits paid out on maturity and another with withdrawal benefits. Professor Newman Kusi, who represented the Finance Minister as Guest Speaker for the occasion, endorsed the product, complementing the company for exhibiting such ingenuity. He however urged the company to ensure that premiums from the sale of its products are carefully invested to ensure maximum returns to policy holders. Mr Kusi, who unveiled a plaque in honour of the product, assured that the finance ministry would impress upon the National Insurance Commission to ensure that the regulatory framework governing the introduction of new products is strengthened so that investors do not lose their savings. He was optimistic that the outlook of the Ghanaian economy is very encouraging and holds much promise to be better. Mr Kusi noted that although the government was confronted with a myriad of economic malfunctions upon assumption of office, it has managed to stabilize the economy through the introduction of various fiscal consolidations. Other dignitaries who graced the occasion included Mrs Nyamikeh Kyiamah, the Commissioner of the National Insurance Commission, Arnold J. Kruger, Board Chairman of the Metropolitan Life Insurance Company and Dr Major Mustapha Ahmed (Rtd), Member of Parliament for Ayawaso East and the Deputy Minister of Water Resources, Works and Housing. Listen to Mr Diop in the attached audio for more By: Dorcas Efe Mensah/myjoyonline.com/Ghana