Jubilee Life and Summit Bank join hands for Bancatakaful

March 16, 2016

Karachi, March 16, 2016: Jubilee Life Insurance, the country’s leading life insurance company, recently signed the Bancatakaful Agreement with Summit Bank, one of the fastest growing commercial banks of Pakistan. The agreement was signed at a ceremony held at Jubilee Life’s Head Office to commemorate the partnership in the wake of the expanding market for Islamic Banking.

The event was attended by the senior management of both the entities to solemnise the anticipated agreement in the presence of Mr. Javed Ahmed, Managing Director & CEO Jubilee Life and Mr. Faisal Murad, Head of Consumer Banking, Summit Bank who duly signed the agreement to mark this collaboration.

Speaking at the ceremony, Mr. Ahmed said: “Bancatakaful is the commencement of a new chapter in the Shariah compliant market and a means of strategically penetrating through the industry that has witnessed prodigious growth in Pakistan itself. We are confident that along with Summit Bank, our top quality services would create room for business longevity through the newly established platform of trust.”

“Ever since our establishment since 2006, our primary focus has been on the evolving needs of our end consumers. Our aim is to rightfully serving them and catering to them in accordance with their demands and market trends. The collaboration with Jubilee Life which is a leading private sector insurance company of Pakistan will enable a one window solution of Bancatakaful through the branch network of Summit Bank,” said Mr. Murad, “We are highly enthusiastic about the mutually beneficial value addition in our portfolio that will serve the customers of both the entities.”

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 in Pakistan 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.