Mr. Taher G. Sachak, MD and CEO EFU Life with Mr. Mohammad Aftab Manzoor, CEO Allied Bank on the occasion of the signing ceremony. Senior officials of EFU Life and Allied Bank are also present at the ceremony.
EFU Life Assurance Ltd and Allied Bank Ltd signed an agreement on November 14, 2008 for the launch of Allied Bank's first bancassurance products. Under this arrangement, Allied Bank will distribute EFU Life's Education and Marriage plans to its massive customer base. These plans will aim to widen the range of Allied Bank's product portfolio and will provide a complete financial planning solution to the bank's customers helping them plan for their children's education and marriage.
Speaking on the occasion, Mr. Taher G. Sachak, Managing Director EFU Life said, "EFU Life is the preferred bancassurance partner for banks in Pakistan. The key to success is our long-term strategies focus and commitment to bancassurance which enables us to offer innovative products to the bank's customers that fulfil their various financial planning needs as well as offer our best services and support to bank partners. We are looking forward to our partnership with Allied Bank as it is definitely a milestone for bancassurance in the country. "
Expressing his views, Mr. Aftab Manzoor, CEO Allied Bank stated, "Allied Bank has always strived to remain the first choice bank for its existing customers and has come up with various innovative products for the new banking customer segment via introducing market based & customer oriented liability products. Bancassurance is another step towards fulfilling our commitment of providing diversified financial solutions to our customers with the convenience of powerful outreach through vast network of branches and variety of alternate delivery channels. Bancassurance has never been targeted before for the middle and lower middle income segment and our proposition is specially designed to cater to their needs. With the launch of bancassurance, the bank is destined to become a one-stop financial center from where our customers can manage all of their financial transactions."
