KARACHI: EFU Life Assurance Ltd is expanding its Takaful footprint in Pakistan, announcing the phased conversion of individual life branches in Khyber Pakhtunkhwa and Balochistan to Sharia-compliant operations.
The move aligns with EFU Life’s strategy to enhance financial inclusion and cater to the growing demand for ethical, Islamic financial solutions. By shifting its focus towards Takaful, the insurer aims to provide secure, Sharia-compliant financial planning to a broader consumer base.
“The phased conversion of our Khyber Pakhtunkhwa and Balochistan operations to Takaful is a key step in our journey to make Shariah-compliant financial solutions widely available,” said Managing Director & CEO of EFU Life Mohammed Ali Ahmed. He noted that the transition aligns with the Securities and Exchange Commission of Pakistan’s (SECP) strategy to expand Takaful penetration in the country.
Leveraging its branch network and digital platforms, EFU Life is positioning itself for further growth, reinforcing its role as a leading provider of Islamic insurance solutions in Pakistan.