Karachi, December 2015: Faysal Bank Limited (FBL) and EFU Life Assurance Ltd (EFU) have entered into a distribution alliance for EFU Life's Window Family Takaful Products under a dedicated brand "Hemayah". FBL is a leading commercial bank of Pakistan with a fast growing Islamic Banking network. EFU Life is a leading life insurance company in Pakistan and is the first Window Family Takaful Operator licensed by Securities and Exchange Commission of Pakistan (SECP).

The signing ceremony was held at Faysal House - Faysal Bank Head Office in Karachi and the agreement was signed by Mr. Nauman Ansari, President & CEO, FBL and Mr. Taher G. Sachak, Managing Director & Chief Executive Officer, EFU Life and. The ceremony was also attended by senior officials of both organizations.

Addressing the gathering, Mr. Nauman Ansari, said "EFU Life is one of our oldest and most reliable partners in the Bancassurance business and we are pleased to have entered into a Takaful arrangement with them. Shariah Compliant products are a major growth segment for Faysal Bank, and with the signing of this agreement, we have taken yet another step towards creating a strong and diverse product menu of our customers. With the continued support of our business partners we hope to add maximum value to the Wealth Management solutions being offered to our clients and expand our base of Shariah compliant offerings for our Islamic segment."

Speaking at the occasion, Mr. Taher G. Sachak, said "It gives an immense pleasure to have Faysal Bank on board as distribution partner for our Family Takaful Products. We admire the success of our existing Bancassurance relationship with Faysal Bank and this Bancatakaful partnership will enhance the association and will give us an added opportunity to expand our product portfolio. Through this relationship, we intend to offer our custom designed Bancatakaful solutions to the bank customers without compromising on their religious values. There is a huge potential in Shariah Compliant Takaful solutions for Pakistan and introduction of Bancatakaful products through Faysal Bank is a step towards providing Shariah Compliant investment and protection solutions to cater the demand for long term impending financial needs of Bank's customers."

FBL & EFU Life believes that this strategic business alliance will play a vital role to develop a very strong mutually beneficial business relationship between Faysal Bank and EFU Life Assurance in the days to come.