Pakistan: EFU Life signs bancatakaful agreement
Source: Middle East Insurance Review | Oct 2015
EFU Life Assurance and Askari Bank Ltd – Islamic Banking Services have entered into an alliance to distribute window family takaful products under the “Hemayah” brand.
Askari Bank is a leading commercial bank in Pakistan with a fast-growing Islamic banking network. EFU Life is one of Pakistan’s largest private-sector life insurers and one of the first window family takaful operators licensed in the country.
Mr Mohammed Ali Ahmed, Chief Strategy Officer & Executive Director of EFU Life, said: “The introduction of bancatakaful products through Askari Bank is a step towards providing Shariah-compliant investment and protection solutions to the bank customers for their long-term financial needs.”