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BankIslami has joined EFU Life and EFU General to offer affordable microtakaful products through its mobile banking app, expanding digital access to Shariah-compliant protection.
BankIslami has partnered with EFU Life Assurance and EFU General Insurance to introduce affordable microtakaful services through its mobile banking application, allowing customers to access Shariah-compliant protection plans digitally.
The collaboration enables BankIslami customers to enroll in, pay for and submit claims for exclusive microtakaful products through the bank’s mobile platform. The plans cover a variety of protection needs, including health and accidental coverage, mobile device protection, digital transaction security, theft protection, home protection and travel takaful.
The partnership agreement was signed at EFU’s headquarters in Karachi. The ceremony was attended by BankIslami Chief Digital & AI Officer Waqas Anis, Head of Digital Products & Channels Hasan Saeed Akbar, Head of Digital Finance Saad Tanveer, EFU General Executive Director Abdul Sattar Baloch, EFU Life GM Channel Strategy & Growth Nilofer Sohail, along with senior representatives from the participating organizations.
The initiative supports BankIslami’s ongoing investment in digital banking and reflects a joint effort by the three institutions to widen access to Shariah-compliant takaful solutions across Pakistan.
Commenting on the partnership, BankIslami Chief Digital & AI Officer Waqas Anis said, “At BankIslami, we are focused on building a digital ecosystem that goes beyond routine transactions and supports our customers across their everyday financial needs. This initiative allows us to use our digital capabilities to make Takaful coverage more accessible and affordable, enabling customers to explore protection solutions through the same platform they already use for banking.”
The collaboration also strengthens BankIslami’s expanding portfolio of digital financial services by integrating insurance protection into its mobile banking platform. The partners aim to make affordable takaful products easier to access while simplifying enrollment, payments and claims through a single digital channel.
