Faysal Bank signs two agreements with Adamjee Life Assurance Company Ltd.

PAKISTAN, Karachi 9th February 2017: Faysal Bank one of the leading banks of Pakistan has recently signed two agreements with Adamjee Life Assurance Company Ltd. According to this agreement, Faysal Bank will now offer additional Adamjee Life Assurance products to its existing and potential customers through its widespread distribution channels. The products will include both Conventional and Takaful Plans.

The Agreement was signed by Mr. Fouad Farrukh, Head Retail Banking Faysal Bank Limited and Mr. Fredrik De Beer, CEO Adamjee Life Assurance at Faysal House – Faysal Bank Head Office in Karachi.  The ceremony was also attended by senior officials of both organizations.

Speaking at the occasion, Mr. Fouad Farrukh, said “This year we are geared towards further developing our Wealth Management proposition with flexible products that are market competitive and meet our customer’s needs. Adamjee Life is one of our leading business partners in the Bancassurance segment and has played a pivotal role in our success and their products will continue to be a driving force towards achieving our goals for 2017”

Addressing the gathering, Fredrik De Beer, CEO Adamjee Life Assurance said  “Adamjee Life is proud to be one of the leading insurance partners of Faysal Bank and the teams have been working together to design the best in class products for Faysal Bank’s valued clientele. Apart from the superiority in products the focus on providing impeccable service by both organizations has made ours one of the most successful partnerships in the Bancassurance industry which we take great pride in”

Prominent features of the products are Shariah Compliant saving mechanism with significant Takaful coverage, multiple optional protection riders to provide additional coverage; furthermore the investments are directed to Shariah Compliant Investment Funds.

The strategic partnership will further enhance the product portfolio of Faysal Bank and allow customers convenient access to an extensive range of conventional and Shariah Compliant products.

About Faysal Bank Limited:

Faysal Bank Limited was incorporated in Pakistan on October 3rd, 1994 as a Public Limited Company under the Companies Ordinance, 1984. The Bank’s shares are listed on Pakistan Stock Exchange. Faysal Bank is engaged in Commercial, Retail, Corporate and Islamic banking activities. The Pakistan Credit Rating Agency Limited (PACRA) and JCR-VIS Credit Rating Company Limited have determined the Bank’s long term rating as ‘AA’ and short term rating as ‘A1+’.

Faysal Bank’s footprint now spreads over more than 100 cities with over 350 branches. With total assets in excess of PKR 380 billion, placing it amongst the significant players in Pakistan’s banking industry. Faysal Bank’s ambition is to provide par excellence service to its customers while meeting their financial needs.


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