EFU Life and The Bank of Punjab partner to provide customized insurance and takaful solutions to BOP’s Roshan Digital Account Holders

Roshan Digital Account is a major initiative of the State Bank of Pakistan, which provides banking solutions for non-resident Pakistanis, and resident Pakistanis with declared assets held abroad. BOP is the first bank in the industry to offer both conventional and Islamic variants of this product for customers to open and operate digitally. In addition to other banking services, RDA customers can make investments in Pakistan, and avail house loan and auto loans.

To enhance lifestyle offerings for RDA customers, EFU Life and BOP have taken the initiative and signed a unique insurance solution for RDA customers and their loved ones. Customers can opt for insurance/Takaful plans according to their needs, enabling them to mitigate financial risks associated with unfortunate events of death, accidental death, and permanent total disability. In addition, the health risks of customers’ family members (spouse and kids) residing in Pakistan are also being taken care of. The entire family can also avail a virtual health care benefit, an essential addition in these Covid times.

A ceremony to mark this event was held at EFU Head Office Karachi which was attended by Mr. Zahid Mustafa, Group Chief Consumer & Digital Banking-BOP, Mr. Mohammad Ali Ahmed, Deputy Managing Director – EFUL Life, Mr. Nofel Daud, Group Head Retail Banking-BOP, Ms. Nilofer Sohail, AGM and Head of Channel Strategy and Execution and other senior officials from both organizations were also present at the event.

Speaking on occasion, Mr. Mohammad Ali Ahmed, DMD EFU Life, said “We congratulate BOP for launching this initiative. With the launch of these technology-based insurance solutions, BOP will be able to serve RDA customers more effectively. This will further augment the RDA proposition of the bank.” Group Chief C & DB Mr. Zahid Mustafa reaffirmed bank’s vision and said, “BOP, is one of the fastest-growing banks in the industry with a vast network of 661 branches all over the country and a reach of close to 2 million customer base. Identifying and catering to the needs of overseas Pakistanis under the RDA banner remains a primary objective of BOP”.