Banking

Bank Alfalah and State Life join hands

KARACHI, March 16, 2021: Bank Alfalah and State Life Insurance Corporation of Pakistan have recently signed an agreement with an aim to maximize customer facilitation and extend Bank Alfalah’s portfolio of services.

Under this agreement, Bank Alfalah is opening its banking network of over 700 branches across Pakistan for cash management of premium and loan instalments on behalf of State Life Insurance Corporation. SLIC is among Pakistan’s largest insurance policy providers, and this facilitation will go a long way to support its customers in making easy and smooth payments.

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Mr. Atif Bajwa, President and CEO Bank Alfalah represented the Bank, and was joined by Dr. Muhammad Sohail Khan Rajput, Chairman of State Life Corporation of Pakistan. Senior management from Bank Alfalah and State Life were also present at the ceremony.

This partnership furthers Bank Alfalah’s vision to continually meet and exceed the financial needs of its customers through the introduction of value added products and services.

Speaking on the occasion, President and CEO of Bank Alfalah Atif Bajwa said, “This is a great milestone that we have collectively achieved, and it is an exceptional honour for Bank Alfalah to be further cementing our relationship with State Life. This agreement enables corporations like State Life to benefit from value added products and gain efficiencies in cash management. We expect that this will create better returns for SLIC as well as allow better service to its end customers. We are entering a new world where transactions, payments and collections have to move with greater speed, and the introduction of such products will serve to effectively meet these needs.”

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