Bank Alfalah, SLIC sign agreement

KARACHI: Bank Alfalah and the State Life Insurance Corporation (SLIC) of Pakistan have recently signed an agreement to maximise customers’ facilitation and extend Bank Alfalah’s portfolio of services, a statement said on Monday.

Under the agreement, Bank Alfalah is opening its banking network of over 700 branches across Pakistan for cash management of premium and loan installments on behalf of State Life Insurance Corporation, it added.

SLIC is among Pakistan’s largest insurance policy providers, and this facilitation will go a long way in supporting its customers in making easy and smooth payments. Bank Alfalah President and CEO Atif Bajwa said, “This agreement enables corporations like State Life to benefit from value-added products and gain efficiencies in cash management. We expect that this will create better returns for SLIC, as well as allow better service to its end customers.”

“We are entering a new world where transactions, payments, and collections have to move with greater speed, and the introduction of such products will serve to effectively meet these needs.”