KARACHI: ABHI Microfinance Bank Limited has entered into a strategic agreement with EFU Life Assurance Ltd to offer life insurance solutions to its customer base, aiming to expand access to financial protection and long-term security across Pakistan, a statement said on Tuesday.
The collaboration establishes a framework under which EFU Life’s insurance products will be distributed through ABHI Microfinance Bank’s platform, enabling customers to access insurance coverage alongside their existing financial services. The initiative is designed to support greater financial inclusion by integrating protection solutions into everyday banking.
Through this partnership, customers will be able to benefit from a range of life insurance offerings, helping them manage financial risks and plan for the future. The agreement also outlines mechanisms for product distribution, customer onboarding, and service delivery, ensuring that insurance solutions are accessible, transparent, and aligned with regulatory requirements.
Both organisations will work closely to ensure effective implementation, including staff training, customer awareness initiatives, and ongoing operational coordination. The collaboration also emphasizes adherence to regulatory standards, data protection protocols, and responsible sales practices to safeguard customer interests.
The agreement defines ABHI Microfinance Bank’s role as a distribution partner, while EFU Life will remain responsible for underwriting, policy servicing, and claims management. This structure allows each organization to contribute its respective expertise to deliver seamless customer experience.
The agreement was signed by Head of Transaction and Employee Banking at ABHI Microfinance Bank Umer Rauf and Chief Executive Officer at EFU Life Assurance Ltd Muhammad Ali Ahmed, along with senior representatives from both organisations.
