Karachi: State Life Insurance Corporation of Pakistan (SLIC) and National Bank of Pakistan (NBP) signed Memorandum of Understanding for offering bilateral financial and insurance solutions.’

Both national institutions agreed to enter into business arrangements includes ‘Employee Banking’, ‘Cash Management Services’, ‘Renaissance of Bancassurance Business’ and ‘Individual and Group Life, Health and Savings products etc.’  Rehmat Ali Hasnie President CEO NBP and Shoaib Javed Hussain Chairman SLIC inked accord. Under Cash Management, NBP through its wide range of product and services will provide SLIC comfort to manage its liquidity effectively and efficiently.  Rehmat Ali Hasnie termed these arrangements as mutually beneficial for both organisations as it will further strengthen NBP’s partnership with SLIC.

Shoaib Javed Hussain said, “Partnership will greatly facilitate SLIC esteemed policyholders convenience and accessibility.”

These services will facilitate SLIC in streamlining and digitalising processes, optimise monitoring of funds, automate everyday task and explore opportunity for value added digital products.

NBP under Employee Banking arrangement will facilitate SLIC employees to meet their financial needs through provision of its wide range of assets and liabilities products under preferred service mode. Arrangement will offer concessional rates as agreed bilaterally and dedicated services designed to address financial needs of SLIC employees.

Published in The Daily National Courier, February, 16 2023

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