Faysal Bank, EFU Life sign Bancatakaful agreement

Karachi: Faysal Bank Limited (FBL) and EFU Life Assurance Ltd (EFU) have entered into a distribution alliance for EFU Life’s Window Family Takaful Products under a dedicated brand “Hemayah”. FBL is a leading commercial bank of Pakistan with a fast growing Islamic Banking network.  EFU Life is a leading life insurance company in Pakistan and is the first Window Family Takaful Operator licensed by Securities and Exchange Commission of Pakistan (SECP).

The signing ceremony was held at Faysal House - Faysal Bank Head Office in Karachi and the agreement was signed by Nauman Ansari, President & CEO, FBL and Taher G. Sachak, Managing Director & Chief Executive Officer, EFU Life. The ceremony was also attended by senior officials of both organizations.

Addressing the gathering, Nauman Ansari, said “EFU Life is one of our oldest and most reliable partners in the Bancassurance business and we are pleased to have entered into a Takaful arrangement with them. Shariah Compliant products are a major growth segment for Faysal Bank, and with the signing of this agreement, we have taken yet another step towards creating a strong and diverse product menu of our customers. With the continued support of our business partners we hope to add maximum value to the Wealth Management solutions being offered to our clients and expand our base of Shariah compliant offerings for our Islamic segment.”**