Meezan Bank and TPL Direct Takaful enter into Strategic Alliance for Car Ijarah Customers

January 13th, 2016

Meezan Bank, Pakistan’s first and largest Islamic bank has announced its strategic alliance with TPL Direct Insurance Limited, Pakistan’s first direct insurance, for providing Takaful Coverage of Meezan Bank’s Car Ijarah vehicles.

The agreement was recently signed by Mr. Mohammad Raza, Group Head Customer Support – Meezan Bank and Mr. Saad Nissar, Chief Executive Officer – TPL Direct Insurance in Karachi.

Commenting on this signing, Mr. Mohammad Raza said: “This powerful collaboration between Meezan Bank’s premium product Car Ijarah and TPL Direct Takaful’s exemplary service standards will enable both the companies to maximize their opportunities in reaching out to segments that want Shariah-compliant alternatives to conventional insurance.’’

Speaking on behalf of TPL Direct Insurance, Mr. Saad said: “We are very pleased to be associated with Meezan Bank, the front-runners in Islamic auto-financing in Pakistan. With the rapidly expanding Islamic banking network across the country, we see an encouraging opportunity for Takaful operators to broaden their product range to serve this growing demand. At TPL Direct Insurance, we endeavor to maintain a reputation of being the best in customer services and fastest in claim settlement and aim to deliver the same commitment to quality to Meezan Bank Car Ijarah customers.”