Karachi, 14 September 2022: Standard Chartered Bank (SCBPL) has signed an agreement with EFU Life and IGI Life for Referral Model. Through this partnership, the longstanding relationship between EFU Life and Standard Chartered Bank will be further strengthened.

The signing ceremony was attended by Standard Chartered Pakistan’s CEO – Rehan Shaikh, Head CPBB – Saadya Riaz, and Head of Wealth Management – Kailash Kumar, along with Mr. Taher G. Sachak, Managing Director and Chief Executive EFU Life Assurance Limited, Mr. Mohammed Ali Ahmed, Deputy Managing Director EFU Life, Mr. Husein Sachak, Director Bancassurance Sales, Ms. Nilofer Sohail, DGM and Head of Channel Strategy and senior representatives from all the three organizations.

Rehan M. Shaikh, CEO at Standard Chartered Pakistan commented, “Through the deepening of this relationship between the Bank and insurance providers, we aim to improve product awareness, especially among the financially marginalized segments of society. The Bank believes in creating value and convenience for its clients and continues to provide cutting-edge financial solutions. The Bank expects synergistic enhancements to result from this deepened partnership and is optimistic that it will help drive the Bank’s insurance business into a new era.”

Mr. Taher G. Sachak, Managing Director and Chief Executive EFU Life Assurance Limited said, “Standard Chartered Bank was our first Bancassurance partner and we are delighted to have the SCB partnership take a new direction. EFU Life and SCBPL share the same vision of creating value and convenience for SCB’s affluent customer base through customized offerings, targeted to the need of this segment. We admire the success of our existing Bancassurance relationship, and I am confident that this new initiative will further enhance the association and position SCB as a key player in Bancassurance”.