Jubilee Life and Habib Metro Bank collaborate for Bancatakaful products

KARACHI: Habib Metropolitan Bank Limited and Jubilee Life Insurance Company Limited have recently entered into a distribution alliance for Jubilee Life’s Window Takaful products to bring ease of access to innovative products as part of delivering an unparalleled level of customer service. Mr. Javed Ahmed, MD & CEO, Jubilee Life Insurance, Mr. Mohsin Ali Nathani, President and CEO, HabibMetro Bank along with other senior representatives of the company attended the signing ceremony.

This strategic alliance among the leaders of the financial arena is expected to play a vital role in developing a very strong mutually beneficial business relationship between HabibMetro Bank and Jubilee Life Insurance. As a result, the end benefit will trickle down to the consumers who have placed their trust and faith in these organisations.

Speaking at the occasion, Mr. Javed Ahmed, MD & CEO, Jubilee Life Insurance said, ‘Bancatakaful is the commencement of a new chapter in the Shariah compliant market and a means of strategically penetrating through the industry which has witnessed prodigious growth in Pakistan; penetration is the foremost benefit that the insurance carriers gain out of a Bancassurance alliance. We appreciate the success of our current Bancassurance relationship with HabibMetro Bank and this Bancatakaful partnership will reinforce the alliance and provide us with an additional opportunity to expand our product portfolio. Through this partnership, we intend to offer banking clients our custom designed Bancatakaful solutions without compromising on their religious values.”

Taking the opportunity, President and CEO of HabibMetro Bank Mr. Mohsin Nathani emphasised the importance of Takaful (shariah compliant alternate to insurance) in the growth of the Islamic finance industry. He said, “Joining hands with one of the leading life insurance companies in Pakistan is another step towards the expansion of our product portfolio, which also aims to cater the broader financial needs of the HMB customers. With the continued support of our business partners, we hope to add maximum value to our customers’ wealth management solutions and extend our Shariah-compliant product base for our Islamic segment.”

About HabibMetro Bank

HabibMetro Bank commenced commercial banking operations in October 1992 and currently operates with an expanding nationwide network of over 370 branches in more than 120 cities across Pakistan. HabibMetro Bank’s resolution and commitment is to maintain the highest standards of Shariah compliance with innovative financial offerings and unparalleled customer service.

About Jubilee Life Insurance

Jubilee Insurance is a global brand of Aga Khan Fund for Economic Development (AKFED) that offers diverse insurance solutions (life, health and general) in the Asian and East African markets. Jubilee Life is the largest private insurance company in Pakistan in Life & Health insurance and in Window Takaful Operations. Jubilee Life offers uniquely designed range of life and health insurance plans, catering to various customer segments and needs. These include retirement, child education, marriage, saving & protection, wealth accumulation, life insurance plans for women, rural insurance plans and life and health insurance solutions for the less privileged of our country.

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