Jubilee Life and HabibMetro Bank collaborate for Bancatakaful products

KARACHI: Habib Metropolitan Bank Limited and Jubilee Life Insurance Company Limited have recently entered into a distribution alliance for Jubilee Life’s Window Takaful products to bring ease of access to innovative products as part of delivering an unparalleled level of customer service. Javed Ahmed, MD and CEO, Jubilee Life Insurance, Mohsin Ali Nathani, President and CEO, Habib MetroBank along with other senior representatives of the company attended the signing ceremony.

This strategic alliance among the leaders of the financial arena is expected to play a vital role in developing a very strong mutually beneficial business relationship between HabibMetro Bank and Jubilee Life Insurance. As a result, the end benefit will trickle down to the consumers who have placed their trust and faith in these organisations.

Speaking at the occasion, Mr. Javed Ahmed, MD & CEO, Jubilee Life Insurance said, ‘Bancatakaful is the commencement of a new chapter in the Shariah compliant market and a means of strategically penetrating through the industry which has witnessed prodigious growth in Pakistan; penetration is the foremost benefit that the insurance carriers gain out of a Bancassurance alliance. We appreciate the success of our current Bancassurance relationship with HabibMetro Bank and this Bancatakaful partnership will reinforce the alliance and provide us with an additional opportunity to expand our product portfolio. Through this partnership, we intend to offer banking clients our custom designed Bancatakaful solutions without compromising on their religious values.”

Taking the opportunity, President and CEO of HabibMetro Bank Mr. Mohsin Nathani emphasised the importance of Takaful (shariah compliant alternate to insurance) in the growth of the Islamic finance industry. He said, “Joining hands with one of the leading life insurance companies in Pakistan is another step towards the expansion of our product portfolio, which also aims to cater the broader financial needs of the HMB customers. With the continued support of our business partners, we hope to add maximum value to our customers' wealth management solutions and extend our Shariah-compliant product base for our Islamic segment.”