FBL & SLIC to offer Shariah-compliant Takaful products to customers

KARACHI: In a recent ceremony hosted at State Life Insurance Corporation of Pakistan (SLIC) Head Office – Window Takaful Operations of SLIC formalized a distribution agreement with Faysal Bank Limited (FBL).

The signing ceremony was witnessed by Yousaf Hussain, President and CEO of FBL and Shoaib Javed Hussain, CEO of SLIC. Jaudat Hussain, Head of Retail Banking FBL and Muhammad Izqar Khan Executive Director of SLIC were present and Ahmed Anwar Hemani, Head Institutional Sales & Wealth Management of FBL and Tariq Saeed Chaudhry, Chief Takaful Officer of SLIC, signed the agreement where senior officials from both organizations were also present.

This distribution agreement signifies that State Life’s Takaful product, particularly the State Life Tayyab Takaful Endowment Plan, will now be accessible to all FBL customers at every FBL branch across the country.

Yousuf Hussain, the CEO of FBL, stated at the ceremony, “Our partnership with State Life for their Takaful Endowment Plan is in fact, an important addition to our long list of initiatives. Moreover, this agreement will provide yet another benefit to our valued customers who are an integral part of our rapidly growing Bank.”

Shoaib Javed Hussain, the CEO of SLIC, stated at the ceremony, “I am pleased to announce this partnership between two prominent organizations in Pakistan. This joint effort reflects a shared commitment to enhancing inclusive financial protection across diverse segments of Pakistani society.”

Copyright Business Recorder, 2023