Business & Money | Tuesday 29 December, 2015 1:44 pm |

Medgulf Takaful, an insurance company in Bahrain, has entered into an agreement with Copart Bahrain in a signing ceremony attended by Mr. Nader Saeed Al Mandeel, CEO of Medgulf Takaful and Mr. Carlos Sabugueiro, CEO of Copart in the Middle East andAfrica.

Together, the companies will work to streamline the salvage sales process. Copart is a global online auto auction company, specialising in salvage disposal for insurance and takaful companies by using its VB3 auction technology, which brings together potential buyers from across the globe, therefore exposing a seller's assets to a wider audience and improving transparency and competition for the vehicles.

On this occasion, Mr. Al Mandeel commented, "Using Copart's vast experience, technology and operations knowledge, we aim to improve the process and achieve higher returns and improvements to our motor portfolio."

Carlos Sabugueiro added, "It is an honour to be adding Medgulf Takaful to our panel of vehicle suppliers here in Bahrain. Our auctions every Sunday are growing in strength and scale. This helps all our suppliers of vehicles as the buyer network continues to increase daily, with regular bidders being seen from all over the GCC."