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BankIslami, EFU Life join hands for BancaTakaful business

Staff Reporter

Karachi

BankIslami Pakistan Limited and EFU Life Assurance Limited have entered into a strategic alliance for distribution of EFU Life, Hemayah Takaful products.
BankIslami is one of the leading Islamic banks operating through a network of 330 branches in 114 cities in Pakistan. EFU Life is one of the leading life insurance companies in Pakistan and is the first Window Family Takaful Operator licensed by SECP. The signing ceremony was held at BankIslami Head Office Karachi and the agreement was signed by Syed Amir Ali, President & CEO BankIslami and Mr. Taher G. Sachak, MD & CEO EFU Life. Mr. Bilal Fiaz, Head-Consumer Banking, BankIslami, Mr. Laeeq Ur Rehman, Head-BancaTakaful BankIslami, Mr. Mohammed Ali Ahmed, Executive Director EFU Life, Mr Husein Sachak, Director Bancassurance EFU Life and other senior officials from both the organizations also attended the ceremony.
Speaking on the occasion, Syed Amir Ali, President & CEO BankIslami said, “On this prestigious occasion, two of the leading organizaations in their respective sectors have entered into a partnership. This strategic alliance will certainly help in providing better services to our customers. With this alliance, we are inking a new chapter in the success story of BankIslami’s BancaTakaful products.
Taher G Sachak, MD & CEO EFU Life said, “We are delighted to have BankIslami on board as our Bancatakaful distribution partner.
EFU Life and BankIslami share the same vision of creating value and convenience for customers through innovative Shariah Compliant financial solutions for their saving and protection needs.
There is a huge potential for Shariah Compliant takaful solutions in Pakistan and together with BankIslami we aim to penetrate further into this segment”.