Meezan Bank, EFU General sign deal

KARACHI: Meezan Bank has signed a memorandum of understanding with EFU General Insurance for the Islamic insurance of cars, a statement said on Wednesday.

Under the agreement, EFU Takaful will provide coverage to the vehicles leased by Meezan Bank through its Shariah-compliant car financing service – car Ijarah.

“The powerful synergy created by Meezan Bank’s premium product Car Ijarah and EFU’s superior service standards will give Meezan Bank’s customers the best possible combination of convenience and security available in the country’s auto finance industry,” the statement quoted Irfan Siddiqui, President Meezan Bank, as saying.