TC Sep-Oct 2022 Issue

TRADE CHRONICLE Sep - Oct - 2022
HBL partners with AICL to provide
dairy, livestock insurance
HBL and Adamjee Insurance Company
Limited (AICL) have collaborated
for providing livestock insurance to
clients. The insurance arrangement
will provide coverage of animal
mortality in addition to covering the
accidental death of the client.
This partnership brings a unique
insurance product to the industry i.e.,
“Working Capital Livestock Insurance
Scheme.” This product further
strengthens the HBL agriculture
portfolio by mitigating significant
risks and promoting greater financial
empowerment for the dairy and
NBP teams up with NGOs to
help flood-hit households
National Bank of Pakistan (NBP),
in collaboration with Thardeep
Microfinance Foundation and Rural
Community Development Program
(RCDP), has stepped up to provide
immediate aid to the vulnerable
communities in Pakistan by providing
water purifiers developed by PakVitae
to provide flood-affected households
access to clean drinking water.
livestock farming sector of
Pakistan.
Commenting on the occasion,
Habib Shah, Acting Head Agriculture
Banking – HBL, said, “Pakistan is the
fourth largest milk producing country
in the world. The agreement with AICL
will facilitate in improvement of the
dairy and livestock ecosystem through
independent and ISO certified labs
to meet the standards established
by the US Environment Protection
Agency (EPA), NSF International and
World Health Organization (WHO)
and removes bacteria, parasites,
microplastics and turbidity.
NBP President and CEO (A) Rehmat
Ali Hasnie announced additional
measures to provide relief to the flood
victims by contributing Rs 50 million to
the Prime Minister’s Flood Relief Fund.
the provision of insurance protection
to dairy farmers towards animal
mortality. HBL is the leading farmer
financing provider in the country and
is committed to enhancing financial
inclusion in rural Pakistan through
such partnerships.”
Syed Ahmer Shoaib, Deputy Executive
Director Commercial – AICL, said, “We
believe that this partnership will benefit
Pakistan’s dairy farmers by enhancing
their protection. The integration
of personal accident coverage of
farmers in the livestock insurance is a
benefitting value addition that actively
enhances the agricultural landscape of
Pakistan while adding to the stability
and sustainability of farmers.”
EFU Life wins ‘Consumers
Demand Award 2022’
EFU Life Assurance Limited, leading
private sector life insurance provider
in Pakistan, has been honoured with
the prestigious ‘Consumers Demand
Award 2022’ for Best Life Insurance
Company at the 16th Consumers
Choice Award 2021-22.
This was announced by NBP President
and CEO (A) Rehmat Ali Hasnie during
briefing reporters here recently.
The representatives of Thardeep
Microfinance Foundation and Rural
Community Development Programme
were also present on this occasion.
These Water Purifiers has patent
coverage in 82 countries and have
undergone rigorous testing by
The unprecedented rains and floods in
Pakistan have caused the devastation
of an enormous magnitude in various
parts of the country. Officials estimate
that more than thirty-three million
people have been affected, and more
than a thousand have lost their lives
due to flooding.
The Pakistani nation, civil society,
and humanitarian organizations are
continuing rescue and
relief efforts.
NBP President mentioned
that NBP has also launched
a digital payments
platform enabling people
across the globe and within
Pakistan to donate using
their preferred payment
method, i.e., Credit/Debit
Card, International bank
transfer, local bank Direct
debit, Wallets, ATMs, and
1Bill.
25
Zain Ibrahim, Senior Executive
Director and Chief Operations Officer,
EFU Life received the award on behalf
of the company from Asadullah Larik,
Additional Collector Customs Pakistan
and Guest of Honor for the event.
This is the 13th consecutive year that
EFU Life has been conferred with
Consumers Choice Award. The award
reflects the company’s customer -
centric approach, innovative products
catering to the evolving needs of
customers and the latest practices it
adopts for providing superior services.
Consumers Association of Pakistan
is a non-government, non-profit
organization set up in 2000 to protect
and educate consumers. It aims to
safeguard the interest of consumers
while ensuring that their needs are
given a higher priority.