Islamabad, 11th OCTOBER 2023 – In a recent ceremony hosted at the State Life Insurance Corporation of Pakistan (SLIC) Head Office – Window Takaful Operations of SLIC formalized a Distribution Agreement with Faysal Bank Limited (FBL). The agreement signing ceremony was witnessed by Mr. Yousaf Hussain, President and CEO of FBL, and Mr. Shoaib Javed Hussain, CEO of SLIC. Mr. Ahmed Anwar Hemani, Head of Institutional Sales & Wealth Management of FBL, and Mr. Tariq Saeed Chaudhry, Chief Takaful Officer of SLIC, signed the agreement while Mr. Jaudat Hussain, Head of Retail Banking FBL, and Mr. Muhammad Izqar Khan Executive Director of SLIC and 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.
Mr. 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. This Agreement will also enable our business community to know about the products, services, and opportunities we keep on tailoring for them”.
Mr. 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, aligning the common vision of fostering economic activities and promoting a savings culture in the country. 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.
