SFTL obtains license to operate as first digital only Islamic Life Insurance provider


Living up to its reputation of creating revolutionary solutions and taking unprecedented initiatives, Salaam Takaful Limited has gone ahead and developed another first, not only in Pakistan, but what is believed to be a first across the globe, a digital only Islamic Life Insurance company, Salaam Family Takaful Limited.
The coveted license was handed over 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 the presence of Salaam Family Takaful’s Shariah board, and their endorsement signified that the new organization with its operations and offerings are completely Shariah compliant.
The company will provide a complete end to end digital offering as per the stipulations and guidelines of SECP. 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 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.”
With a lot of details expected in the coming days, the company sources have revealed this much that the products will not be the usual Life Insurance or Family Takaful products available in the market, but disruptive in terms of policyholder benefits and quite unique features, with induction of technology and real time information availability, being another hallmark of the total offering.
Salaam Family Takaful Limited is the subsidiary of Salaam Takaful Limited, a renowned name in Insurance and Takaful industry being the largest general takaful operator in Pakistan. Digital processes and innovative products have been the foundation of their phenomenal success in non-life insurance and takaful arena.