Faysal Bank signs two agreements with EFU Life Assurance Ltd

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Faysal Bank signs two agreements with EFU Life Assurance Ltd

PAKISTAN, Karachi 20 February 2017: Faysal Bank one of the leading banks of Pakistan has recently signed two agreements with EFU Life Assurance Ltd. According to this agreement, Faysal Bank will now offer additional EFU Life Assurance products to its existing and potential customers through its widespread distribution channels. The products will include both Conventional and Takaful Plans.

The Agreement was signed by Mr. Fouad Farrukh, Head Retail Banking Faysal Bank Limited and Mr. Taher G. Sachak, Managing Director EFU Life at Faysal House – Faysal Bank Head Office in Karachi.  The ceremony was also attended by senior officials of both organizations.Speaking at the occasion, Mr. Fouad Farrukh, said “With the beginning of the new year, we aim to further expand our Wealth Management offerings to cater to our clients’ expectations and provide customized financial solutions for every need. Signing these new products with EFU Life is a significant step in this direction, and will be pivotal towards further strengthening our franchise. We are confident that our mutual association with EFU Life and the support extended by them will make this venture a success.”Addressing the gathering, Mr. Taher G. Sachak, MD EFU Life said “It gives us immense pleasure to expand our product menu with Faysal Bank. We admire the success of our existing Bancassurance relationship and I am confident that the new innovative and enriched products will enhance the association and will give us an added opportunity to penetrate deeper into the bank’s customer base with a targeted approach”.Prominent features of the products are Shariah Compliant saving mechanism with significant Takaful coverage, multiple optional protection riders to provide additional coverage; furthermore the investments are directed to Shariah Compliant Investment Funds.FBL believes that this strategic partnership will continue to play a vital role in developing strong mutually beneficial business relationship between Faysal Bank and EFU Life Assurance. The new products will cater to customers’ needs according to their requirement of conventional or Shariah Compliant products.