ISLAMABAD: easypaisa Digital Bank has partnered with EFU Life to introduce a Shariah-compliant Takaful savings product through the easypaisa mobile application, expanding access to digital savings and financial-protection services in Pakistan.
The new digital Takaful savings plan allows customers to save through the app while receiving built-in Takaful coverage. According to the companies, users may earn returns of up to 8%, subject to the product’s applicable terms and conditions.
The initiative combines savings and protection within a single digital service and is aimed at customers seeking Islamic financial products without visiting a bank branch or insurance office.
EFU Life has also listed the launch among its latest partnerships with easypaisa, describing it as a new Shariah-compliant savings solution under their broader strategic relationship.
Savings and Takaful available through app
Customers can access the product through the easypaisa app and begin saving digitally.
The companies said eligible participants would also have an opportunity to win a sponsored Umrah trip as part of the product campaign. Details of eligibility, investment limits, returns, coverage and withdrawals are expected to be governed by the plan’s terms.
Takaful is an Islamic alternative to conventional insurance in which participants contribute to a shared fund used to provide financial protection against specified risks.
EFU Life operates several Takaful-linked investment funds, including its Takaful Growth Fund and Aitemad Growth Fund.
Partnership targets Islamic digital banking market
Jahanzeb Khan, president and chief executive officer of easypaisa Digital Bank, said the product would strengthen the bank’s wealth-management services and help customers protect their income while planning their finances.
He said the partnership also supported easypaisa’s focus on Pakistan’s growing Islamic digital-banking segment.
Mohammed Ali Ahmed, managing director and chief executive officer of EFU Life, said the collaboration would expand access to Shariah-compliant financial protection for customers using digital channels.
The product builds on easypaisa’s insurance marketplace, which was launched in 2025 to offer insurance services through its app.
easypaisa describes itself as a digital bank offering payments, transfers, savings and other financial services through its mobile platform. Its app currently includes savings and term-deposit products alongside routine banking services.
The company says it has more than 60 million registered users. The partnership with EFU Life is intended to extend savings and protection products to existing customers as well as people who remain outside the formal banking and insurance sectors.
Also Read: PACRA upgrades easypaisa digital bank rating to AA- after strong financial performance
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