BankIslami and EFU Life join hands for BancaTakaful Business

BankIslami Pakistan Limited and EFU Life Assurance Limited have entered into strategic alliance for distribution of EFU Life’s Hemayah Family 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 of BankIslami and Mr. Taher G. Sachak, MD & CEO of EFU Life. Mr. Bilal Fiaz, Head-Consumer Banking of BankIslami, Mr. Laeeq Ur Rehman, Head-BancaTakaful of BankIslami, Mr. Mohammed Ali Ahmed, Executive Director of EFU Life and other senior officials from both the organizations also attended the ceremony.

Speaking on the occasion, Syed Amir Ali, President & CEO of BankIslami said, “On this prestigious occasion, two of the leading organizations 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.

Mr. Taher G Sachak, MD & CEO of 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 their 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”.