Karachi: EFU Life Assurance Ltd and Dubai Islamic Bank Pakistan Ltd (DIBPL) have entered into a distribution alliance for EFU Life's Window Family Takaful Products under a dedicated brand "Hemayah". DIBPL is a wholly-owned subsidiary of Dubai Islamic Bank UAE, world's first Islamic Bank. EFU Life is a leading life insurance company in Pakistan and is the first Window Family Takaful Operator licensed by SECP.

The signing ceremony was held at DIBPL Head Office Karachi in the presence of senior officials from both organizations including Mr. Taher G. Sachak, CEO & MD EFU Life and Mr Junaid Ahmed, CEO DIBPL.

Speaking on the occasion, Mr Junaid Ahmed (CEO - DIBPL) said "This is one of the most important initiatives of this year, as DIBPL is privileged to be the first bank in the industry to enter this strategic business alliance with EFU Life. This business venture will surely benefit both DIBPL & EFU Life as this collaboration will improve DIBPLs market leading footprint and help to further grow its share in Pakistan's Takaful Industry".

Mr Taher G Sachak (CEO & MD - EFU Life) said "We see a huge potential in Shariah Compliant takaful solutions for Pakistan and I am delighted to have DIB as our first Islamic Bank partner for bancatakaful. Together we are offering best value takaful products to DIB customers that will help them in their long term financial planning needs".

The business venture will benefit both parties in terms of revenue and cross selling of products whereby they will be using their resources & marketing channels for the promotion and distribution of EFU Hemayah Takaful products.