Waseela Microfinance Bank, which recently got the heavy weight CEO Ghazanfar Azzam, signed a partnership agreement with Adamjee Life Assurance.
The signing ceremony was attended by the top managements of Waseela Bank and Adamjee Life.
Under this arrangement Adamjee Life will provide various life insurance solutions to Waseela bank customers.
Waseela Microfinance Bank, subsidiary of Orascom Telecom Holdings and a sister concern of Pakistan Mobile Communications Limited (PMCL), has been established to cater to the needs of the vast under and unbanked market segments through simple and low cost channels such as branchless banking agents, community centers and smart branches.
Waseela MF Bank through an alliance intends to become a major player in the branchless banking arena and has plans to introduce mass market savings, loans, funds transfer, insurance and investment products to promote financial inclusion, promote economic and trade empowerment in both rural and urban communities.
Ghazanfar Azzam, President and CEO of the Waseela Bank said,
“Bank and its management will continue to research, innovate and offer customer-focused solutions that are easily accessible to the general public. The collaboration with Adamjee life is another step in achieving this goal.”
Fredrik de Beer, CEO of Adamjee Life Assurance said,
“Adamjee is dedicated to explore innovative distribution channels that make insurance affordable and accessible, also create awareness amongst the public at large to make insurance part of an individual’s financial and future planning. Collaboration with W Bank will positively contribute towards achieving this goal.”
It merits mentioning here that Waseela Bank recently received Branchless Banking License.