Faysal Bank, SLIC-Window Takaful Operations forge strategic partnership

October 11, 2023 (MLN): Window Takaful Operations of SLIC formalized a distribution agreement with Faysal Bank Limited (FBL) during a ceremony held recently, a statement said on Wednesday.

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

The signing ceremony was witnessed by Mr Yousaf Hussain, president and chief executive officer (CEO) of FBL and Mr Shoaib Javed Hussain, CEO of SLIC. Mr Jaudat Hussain, head of Retail Banking, FBL, and Mr. Muhammad Izqar Khan, executive director of SLIC, were present on the occasion.

Mr Ahmed Anwar Hemani, head of Institutional Sales and Wealth Management of FBL and Mr Tariq Saeed Chaudhry, chief takaful officer of SLIC, signed the agreement, in the presence of senior officials from both organizations. 

Mr Yousuf Hussain said, “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.

This agreement will also enable the business community to know about the products, services, and opportunities we keep on tailoring for them.

“I am pleased to announce this partnership between two prominent organizations of Pakistan. This joint effort reflects a shared commitment to enhancing inclusive financial protection across diverse segments of the Pakistani society; aligning the common vision of fostering economic activities and promoting a savings culture in the country,” Mr Shoaib Javed Hussain said.

“The collaboration brings benefits of best-in-class savings and protection products to Faysal Bank’s valued customers and represents a significant step towards offering Shariah-compliant takaful solutions to the people of Pakistan,” he added.

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