TPL Life, Mobilink Bank expand takaful partnership

Mettis Global reported that TPL Life Insurance (TPLL) has widened its strategic partnership with Mobilink Microfinance Bank, a move disclosed to the Pakistan Stock Exchange on Wednesday. The agreement covers two new offerings: Unit-Linked Takaful Plans, which pair protection with investment-linked features, and a process for converting existing insurance products into Shariah-compliant products. Through the bank's customer base, TPL Life will distribute these protection and takaful solutions.

Under the arrangement, the insurer aims to broaden the financial protection options that Mobilink Bank can provide, giving customers an alternative aligned with Islamic financial principles. According to TPL Life, the initiative is designed to improve access to insurance and takaful offerings and support wider financial inclusion across Pakistan. The company also stated that it will keep shareholders updated on any material developments as required by regulations.

The disclosure did not include the financial value of the deal, the expected customer numbers or a timeline for launching the Unit-Linked Takaful Plans. The partnership is described as a further step in the two companies' collaboration, and it is tied to national efforts to widen formal financial services and Shariah-compliant products.