ISLAMABAD: Pakistan has licensed Salaam Family Takaful Limited (SFTL) as the country’s “first ever” digital Islamic life insurance provider, Pakistani state media reported Thursday.
Akif Saeed, chairman of the Securities and Exchange Commission of Pakistan (SECP), handed the license to Rizwan Hussain, chief executive officer (CEO) of the Salaam Family Takaful Limited.
The SFTL will provide Shariah-compliant, end-to-end digital offerings as per the stipulations and guidelines of the SECP, the APP news agency reported.
“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,” the report quoted Hussain as saying.
“We have done extensive work in developing a comprehensive infrastructure to be the first ever digital only Life Takaful operator, and in’sha’Allah our products will provide an exquisite digital experience.”
The SFTL said the endorsement signified that its operations and offerings were “completely Shariah-compliant,” according to the report.
The organization would introduce products that would not be the usual life insurance or family takaful products, but they would be disruptive in terms of policyholder benefits and include unique features such as real-time information availability.
Pakistan has lately encouraged the development of Shariah-compliant financial institutions in the country.
In April, the SECP approved amendments to the Securities Brokers (Licensing and Operations) Regulations, 2016 and issued license to ZLK Islamic Financial Services (Private) Limited as the first Shariah-compliant brokerage house in Pakistan.
Pakistan licenses Salaam Family Takaful as ‘first ever’ digital only Islamic life insurance provider
https://arab.news/2gj54
Pakistan licenses Salaam Family Takaful as ‘first ever’ digital only Islamic life insurance provider
- Pakistan has lately encouraged the development of Shariah-compliant financial institutions in the country
- In April, Islamabad licensed ZLK Islamic Financial Services Limited as first Shariah-compliant brokerage house
Pakistan, Jordan agree to enhance cooperation in trade, energy, investment
- Pakistan, Jordan hold inter-ministerial commission meeting in Islamabad to discuss cooperation in several sectors
- Both sides agree to form working group, Jordan-Pakistan Business Council to accelerate trade and investment cooperation
ISLAMABAD: Pakistan and Jordan have agreed to enhance cooperation in trade, investment, banking, energy and other economic sectors, Commerce Minister Jam Kamal Khan said on Thursday.
The understanding was reached between the two sides at a meeting of the Pakistan-Jordan Inter-ministerial Commission in Islamabad on Thursday.
Pakistan enjoys cooperation with Jordan in several sectors including trade, defense and minerals. Jordan was the fifth country to recognize Pakistan after it secured independence in 1947. The two nations established formal diplomatic ties in 1948.
“Areas which cover a very diversified sectoral approach from trade and investment, industrial development, banking and finance, agriculture and livestock, higher education, vocational training, labor, health, climate change, maritime, energy, mineral resources and many more,” Khan said at a news conference with Jordanian Minister of Industry and Trade Yarub Qudah.
The Pakistani minister said it was a “very good opportunity” for both sides to transform their brotherly relations into economic cooperation.
Qudah agreed with Khan, saying it was time for Islamabad and Amman to take their economic and trade relations to “a totally different level.”
“We have also agreed to have a working group that will work this year on different sectors and also the establishment of the Pakistan-Jordan Business Council,” he said.
He invited Khan to Jordan to hold talks on further cooperation, adding that the 11th meeting of the inter-ministerial commission will be held in Jordan next year.
The bilateral trade between Pakistan and Jordan stood at $46.58 million in 2023. Pakistan’s main exports to Jordan include textiles, rice, ethyl alcohol, polymers of styrene, sugar confectionaries, nuts and dried fruits.
Meanwhile, Pakistan mainly imports mineral and chemical fertilizers, ferrous waste and scrap, inorganic acids, chemicals, medicaments and seeds from Jordan.
