The Eastern Federal Union (EFU) has planned to expand its business activities across Asia. This was stated by Managing Director, EFU, Safiuddin N Zoomkawala at a programme, organised by 21st Century Business and Economic Club at a local hotel on Thursday night. The theme of event was 'How the EFU Group is Made Success Story: A Pakistan Case study'.
Safiuddin said that the EFU was considering expansion of its business circles across Asia and for this purpose EFU's regional offices would be established in Sri Lanka, Maldives, Nepal and Bangladesh shortly. He said that EFU was established in 1932 and is the pioneer of Islamic insurance. He added that the EFU's services cover almost every sector including health insurance, life insurance, Islamic insurance, agricultural insurance, and livestock insurance.
Safiuddin apprised that EFU's annual premium increased up to Rs 14.5 billion and its assets reached up to Rs 50 billion in 2007. He added that the EFU has captured almost 60 percent of market shares with share capital of 1,000 million in last year.
He lauded the efforts of 21st Century Business and Economic Club in highlighting successful business personalities and making people aware of their success stories. A large number of people from every walk of life were present on the occasion.