BankIslami and TPL Life come together to bring comprehensive COVID coverage for their customers

KARACHI: 16^th April 2020 – BankIslami, one of Pakistan’s fastest growing Islamic finance institutions has partnered with TPL Life to offer a consolidated COVID-19 coverage plan for customers. The package is a complete Shariah compliant takaful plan for the entire family with up to PKR 30,000 initial benefits upon diagnosis and further Hospital Cash Assistance for each member under the only COVID Protection Shield available to individuals.

“At present, the country is experiencing it’s third wave of infections with new variants of the virus being detected causing positivity ratio of cases to spike. This plan comes at a relevant time from Pakistan’s first Takaful provider and is a leading product giving coverage against COVID-19 related expenses. The cover also include provision for funeral expenses worth up to PKR 100,000 in case of an unfortunate demise. It is a result of a partnership between two of the country’s foremost institutions that are offering Islamic finance and takaful solutions for the benefits of masses across the country.

Speaking at the occasion, BankIslami CEO, Syed Amir Ali stated; “COVID-19 is the most challenging health crises that we have witnessed in modern history. Although vaccinations have begun, infections are still on the rise and there are many people struggling to find the resources to provide effective treatment for themselves and their family members. At BankIslami, our customers have always been the first priority and we are personifying our commitment towards them with this industry first plan in partnership with TPL Life.”

TPL Life takaful CEO, Faisal Shahzad Abbasi, who was also present during the signing ceremony further noted; “At TPL Life, we understand what is at stake for people across the country in wake of the COVID-19 pandemic. Our goal has always been to facilitate consumers in every way possible and this takaful plan is designed to meet one of the most pressing needs that people are facing at the moment. We believe that this plan will enable many families to afford the care that they need.”

BankIslami is amongst the country’s leading Banks that specialize in Riba-free banking products. The institution empowers customers across the country to accept financial inclusion on terms that are in tandem with Islamic principles.