BankIslami expands access to affordable microtakaful protection

KARACHI: BankIslami has partnered with EFU Life Assurance and EFU General Insurance to make affordable microtakaful protection accessible to its customers via the Bank’s mobile banking application. The partnership enables BankIslami customers to enroll, pay and claim exclusive microtakaful plans with affordable contribution options. The offering spans a range of protection plans, including health and accidental coverage, mobile device protection, digital transaction security, theft protection, home protection, and travel Takaful, among others. The agreement was formalised during a signing ceremony at EFU’s headquarters in Karachi, in the presence of BankIslami’s Chief Digital & AI Officer, Waqas Anis; Head of Digital Products & Channels, Hasan Saeed Akbar; Head of Digital Finance, Saad Tanveer; EFU General’s Executive Director, Abdul Sattar Baloch; EFU Life’s GM Channel Strategy & Growth, Nilofer Sohail, along with other team members. This partnership is in line with BankIslami’s continued investment in its digital banking offerings and reflects a shared commitment with EFU Life and EFU General to extend Shariah-compliant takaful protection to a wider segment of customers across the country. Commenting on the initiative, BankIslami’s 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. ” Copyright Business Recorder, 2026

Read full story on Business Recorder