In a groundbreaking move that underscores its commitment to innovation, Salaam Takaful Limited has pioneered a new era, not just in Pakistan, but globally, with the launch of Salaam Family Takaful Limited, the world’s first digital-only Islamic Life Insurance Company.
The prestigious license was officially presented to Mr. Rizwan Hussain, MD and CEO of Salaam Family Takaful Limited by Mr. Akif Saeed, Chairman, Securities and Exchange Commission of Pakistan (SECP), in a ceremony attended by Salaam Family Takaful’s esteemed Shariah board. Their endorsement serves as a testament to the company’s unwavering commitment to Shariah compliance in all its operations and offerings.
The company will provide a complete end-to-end digital offering per SECP’s stipulations and guidelines. On this occasion, Mr. Rizwan Hussain, MD and CEO of Salaam Family Takaful Limited, stated, “With this license of our new company, we will be revealing a new brand very soon, which will not only resonate with our values of customer centricity and innovation but will also introduce the much-needed game changing Islamic Life Insurance and Savings offering, never seen before in Islamic Life Insurance segment across the globe. We have done extensive work developing a comprehensive infrastructure to be the first ever digital-only Life Takaful operator, and inshallah, our products will provide an exquisite digital experience.”
With many details expected in the coming days, company sources have revealed that the products will not be the usual Life Insurance or Family Takaful products available in the market. They will be disruptive in terms of policyholder benefits and quite unique features, with the introduction of technology and real-time information availability being another hallmark of the total offering.
Salaam Family Takaful Limited is a subsidiary of Salaam Takaful Limited, a renowned name in the insurance and Takaful industry and the largest general takaful operator in Pakistan. Digital processes and innovative products have been the foundation of their phenomenal success in the non-life insurance and takaful arena. With this new company, they are entering the world of Life Insurance and Family Takaful with the same success factors in their stride.
