BankIslami has partnered with EFU Life Assurance and EFU General Insurance to make affordable microtakaful protection more accessible to customers through the Bank’s mobile banking application.
Announced on July 13, 2026, the collaboration enables BankIslami customers to enroll, make contributions, and submit claims for exclusive microtakaful plans directly through the Bank’s digital platform, expanding access to Shariah-compliant protection solutions across Pakistan.
Digital Microtakaful Services Available Through Mobile App
Under the partnership, customers can access a variety of affordable microtakaful products with flexible contribution options.
The available protection plans include health and accidental coverage, mobile device protection, digital transaction security, theft protection, home protection, and travel Takaful, among other offerings.
The initiative is designed to simplify access to essential protection products by integrating them into BankIslami’s existing mobile banking ecosystem.
Partnership Formalized at Signing Ceremony
The agreement was signed during a ceremony held at EFU’s headquarters in Karachi.
The event was attended by BankIslami Chief Digital & AI Officer Waqas Anis, Head of Digital Products & Channels Hasan Saeed Akbar, Head of Digital Finance Saad Tanveer, EFU General Executive Director Abdul Sattar Baloch, EFU Life GM Channel Strategy & Growth Nilofer Sohail, along with senior representatives from the three organizations.
Focus on Shariah-Compliant Financial Protection
The partnership aligns with BankIslami’s ongoing investment in digital banking services while reflecting a shared commitment with EFU Life and EFU General to broaden access to Shariah-compliant takaful protection.
By offering microtakaful solutions through digital channels, the initiative aims to make financial protection more convenient and affordable for a wider segment of customers across the country.
Commenting on the partnership, BankIslami Chief Digital & AI Officer Waqas Anis said the Bank is focused on building a digital ecosystem that supports customers beyond routine banking transactions.
He added that the collaboration leverages the Bank’s digital capabilities to make Takaful coverage more accessible and affordable, allowing customers to obtain protection through the same platform they already use for their banking needs.
Supporting Financial Inclusion Through Digital Innovation
The collaboration reflects the shared objective of BankIslami, EFU Life, and EFU General to expand the reach of Shariah-compliant financial protection in Pakistan.
The initiative also strengthens BankIslami’s growing portfolio of digital banking services as the Bank continues to enhance its digital ecosystem in line with its mission of promoting interest-free financial solutions and improving customer convenience.
Expanding Access to Affordable Takaful
With the launch of digital microtakaful services, BankIslami customers will have easier access to a range of affordable protection products through a seamless mobile banking experience. The partnership represents another step toward increasing financial inclusion by combining digital banking innovation with accessible Shariah-compliant insurance solutions.