Bank of Punjab and State Life reach landmark accord.

The Bank of Punjab (BOP) and State Life Insurance Corporation of Pakistan (SLIC) have signed Bancaassurance and Bancatakaful agreements in a ceremony recently held in Lahore at BOP Head Office. Mr. Shoaib Javed Hussain, Chairman SLIC and Mr. Zafar Masud, President and CEO BOP were present at the ceremony. Senior officials from both organizations were also in attendance on the occasion.

This is a landmark agreement which marks a first for both organizations in terms of Bancatakaful proposition. While BOP is already offering various Bancasurance (conventional) products, it will be for the first time that a Takaful proposition is going to be offered from BOP Islamic branches as well as from Islamic windows of conventional branches. Similarly, this agreement marks the first bancatakaful agreement for SLIC, whereas SLIC is currently offering only conventional products with other partner banks.

Mr. Zafar Masud, President and CEO of the Bank of Punjab said, "At Bank of Punjab we strive to provide world-class financial services to our customers across Pakistan. We do this through innovative products and excellence in customer...