Al-Baraka Bank and Takaful Pakistan sign MoU for Shariah complaint insurance services

Al-Baraka Bank and Takaful Pakistan sign MoU for Shariah complaint insurance services

Al Barka Islamic Bank and Takaful Pakistan Limited signed a Memorandum of Understanding (MoU) here on Friday to provide all kinds of Shariah complaint insurance services or to the Al- Barka Islamic Bank and its consumers..

The Chief Executive Officer of Takaful Pakistan Limited Jamil Akhter and Country Head Al Barka Islamic Bank Mr Shafqat Ahmed singed the documents on behalf of their respective organizations.

The MoU is considered as an important step for the financial sector to promote Islamic banking and industries, said Takaful Pakistan Limited CEO Jamil Akhtar addressing the audiences. He said that Takaful Pakistan Limited would play an important roll in growth of Islamic banking and economic sector. Besides operating in Muslim countries, there are more than 108 Takaful (Islamic Insurance) companies operating successfully in the non-Muslim countries such as USA, England, India, Srilanka, and Japan, Mr. Akhtar added.

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