Takaful - Pakistan: EFU General partners with Meezan Bank in motor takaful
Source: Middle East Insurance Review | Feb 2016
EFU General Insurance, a window takaful operator, has partnered with Islamic bank Meezan Bank to provide motor takaful covers. Under the agreement, EFU General Insurance will provide coverage to vehicles leased by Meezan Bank through its Shariah-compliant car financing service, Car Ijarah.
Mr Hasan Ali Abdullah, Managing Director of EFU General Insurance said: “We are delighted to be partnering with Meezan Bank, which has the largest Islamic banking branch network in the country and is one of the leaders in the auto financing sector in Pakistan. The agreement offers a great platform for the development of takaful products, increasing coverage in the country, creating potential demand for Islamic financing products and offering a superior alternative to conventional insurance.”