Pak-Qatar Family Takaful Limited, Dawood Islamic Bank Limited and FWU AG have signed a strategic co-operation agreement according to which Dawood Islamic Bank would distribute Shariah compliant Bancassurance (BancaTakaful) products across its branch network.
The agreement was signed by CEO Pak-Qatar Family Takaful P. Ahmed and Pervez Said, President and CEO, Dawood Islamic Bank at DIB's Head Office. According to a press release issued here on Monday, these products will provide DIB's customers with long term savings plans specifically catered to fulfil their future financial needs. In addition, the Takaful cover will offer financial protection to the families by addressing their future financial needs in the unfortunate case of the breadwinner's untimely death.
Speaking on the occasion CEO Pak-Qatar Family Takaful P. Ahmed said that his company is establishing alliances with organisations that have vast distribution network and trained human resource in order to reach out to maximum number of customers. He said that Pak-Qatar Family Takaful is always looking for ways to provide value added products to the people of Pakistan. Joining hands with Dawood Islamic Bank is testimony of our vision to spread the reach of Takaful products to a large number of people who would benefit from a customer centric and Shariah compliant risk mitigation tool."
Dawood Islamic Bank is a fast-growing dedicated Islamic Bank with 50 online branches nation-wide. Its largest shareholder is Unicorn Investment Bank of Bahrain. Taimur Afzal, head of Consumer Banking, pointed out that the bank has a complete suite of Shariah complaint financial products and this bancaTakaful addition will bring tremendous value for the bank and its customers.
Pak-Qatar Family Takaful, the pioneer of Family Takaful in Pakistan, is the fastest growing Takaful Company in the region. PQFT is sponsored by the leading financial institutions in the state of Qatar. Having a customer centric strategy, PQFT is serving Pakistani customers with risk mitigation and savings products which are both competitive and comprehensive.
The FWU Group has its Headquarters in Munich and is a recognised "Global Leader in Takaful expertise", winning six Takaful Industry Awards in the past 2 years. It facilitates distribution of Family Takaful and unit linked savings products via a web based Point of Sale and administration system. Its International Takaful network includes offices in Karachi, Dubai, Kuala Lumpur and Luxembourg.-PR