Al Baraka Pakistan has signed a Memorandum of Understanding (MoU) with Pak Qatar Family Takaful in a recently held Signing Ceremony at their head office. This partnership will enable the Bank to provide Takaful coverage for its “Tabeer Saving Plan” customers in a Shariah-complaint manner. Speaking on the occasion, Ahmed Shuja Kidwai, CEO Al Baraka Bank Pakistan said, “Al Baraka is always keen to provide unique and innovative products to its customers; through this we will be able to provide another Shariah-complaint financial solution for their saving needs.” He added, “I see this alliance with Pak Qatar Family Takaful as a long-term and promising solution towards our customers’ financial needs.” Commenting on the partnership, he stated “Al Baraka Pakistan and Pak Qatar should further engage in mutually beneficial projects which are equally helpful for both our customers and will enhance our customers’ loyalty towards the brands. With this partnership, our customers can benefit from Riba-free takaful coverage along with the peace of their heart and mind.” Al Baraka Tabeer Saving Plan is an innovative Shariah-compliant, customer-friendly alternative to Banca Takaful/assurance that offers a unique combination of saving, investment and protection. Customers will be able to consistently save for their future needs such as child education, child marriage, retirement or any other future financial needs.