Lahore: EFU Life, a leading life insurance and family takaful provider has teamed up with Kashf Foundation , a pioneering microfinance institution, to launch the innovative “Khushal Mustakbil Plan.” This initiative aims to empower women while offering financial resilience through a unique insurance plan bundled with the microfinance offering.
Women hold pivotal roles in shaping both the micro and macro aspects of any society. Without the active participation of women in all spheres of the economy and the society, sustainable progress cannot be achieved. Recognizing the vital contribution of women’s inclusion, it is imperative products and financial services are designed keeping their needs in view with the sustained vision to enable women to manage financial decisions better and address unplanned contingencies. The Khushal Mustakbil Plan, jointly launched by both organizations, shares this common objective.
Insurance Commissioner at the Securities and Exchange Commission of Pakistan (SECP) Mr. Aamir Khan said “We applaud Kashf Foundation and EFU Life for their innovative collaboration in launching the Khushal Mustakbil Plan. This is a one-of-a-kind product in the industry that has been very thoughtfully designed by both organizations with a strong focus on addressing the needs of the target market and ensuring protection for this vulnerable segment against unforeseen life challenges. This product aligns with our mission of promoting financial inclusion and women empowerment in the country”.
Commenting on the partnership, Ms. Roshaneh Zafar, MD Kashf Foundation, stated” We are proud to announce the launch of revolutionary Khushal Mustakbil Plan, specifically tailored for women from low-income communities in Pakistan. Kashf Foundation has worked with over 5 million micro female entrepreneurs, whose resilience and resourcefulness is unmatched. The Khushal Mustakbil plan builds on women’s aspirations to build a better future for themselves and the next generation. The plan will allow women from low-income families to establish financial goals that are both achievable and impactful. Through this product, we strive to create a more inclusive and resilient financial landscape for women in Pakistan, enabling them to overcome barriers and achieve long-term financial stability.”
Mr. Mohammed Ali Ahmed, MD & CEO of EFU Life, added, “I am delighted at our collaboration with Kashf Foundation as we have co-created an innovative financial planning solution for the women of Pakistan. Over the years, EFU Life has, through its strategic focus on promoting Digital and inclusive Insurance, consistently fulfilled its promise to uplift underserved segments and created opportunities for the wider population by introducing inclusive and innovative financial solutions. Khushal Mustakbil Plan serves as a reaffirmation of our enduring commitment to nurturing ongoing excellence and reinforcing financial resilience amongst various population segments, with a particular emphasis on advancing financial independence among women in our nation.”
This partnership between Kashf Foundation and EFU Life underscores the importance of collaboration in driving positive change and empowering women in society. Together, both organizations are determined to make a lasting impact on the lives of women across Pakistan.