easypaisa Digital Bank has partnered with EFU Life to introduce a fully digital Islamic Takaful Savings solution, expanding access to Shariah-compliant financial products through its mobile application.
The new offering allows customers to save digitally while earning halal returns of up to 8%. It also includes built-in Takaful protection, combining wealth creation and financial security in a single product. Customers who sign up through the app will also have a chance to win a free Umrah trip.
The launch marks another step in easypaisa’s strategy to broaden Islamic digital banking services while strengthening Pakistan’s growing insurtech ecosystem. The initiative also supports wider financial inclusion by making Shariah-compliant savings and protection available through a platform already used by more than 60 million registered customers.
Digital Savings Meets Takaful Protection
Under the partnership, customers can start saving directly through the easypaisa app without visiting a branch. The solution integrates savings with Takaful protection, offering a seamless digital experience designed for customers seeking Shariah-compliant financial planning.
The collaboration builds on the longstanding relationship between easypaisa and EFU Life, which have previously launched several digital insurance products through the platform. The latest product expands that partnership into Islamic savings and protection.
Commenting on the launch, Jahanzeb Khan, President and CEO of easypaisa Digital Bank, said, “The introduction of Islamic Takaful insurance further strengthens our wealth management offering and reflects our commitment to meeting the evolving needs of our customers. By helping protect their hard-earned income and supporting better financial planning, we are also advancing our strategic focus on serving Pakistan’s growing Islamic digital banking segment.”
EFU Life Expands Digital Takaful Partnership
Mohammed Ali Ahmed, Managing Director and CEO of EFU Life, said the collaboration would help bring Shariah-compliant financial protection to more Pakistanis.
“As the leading insurance partner for easypaisa, we are thrilled to strengthen our partnership by introducing takaful services. This initiative allows us to cater to a wider segment of customers seeking Shariah-compliant financial protection, while reinforcing our commitment to innovation and inclusivity,” he said.
EFU Life is Pakistan’s largest private life and family Takaful operator and has increasingly focused on digital insurance partnerships to widen access to affordable protection products. The company has recently expanded collaborations with several financial institutions to accelerate digital insurance adoption.
Supporting Financial Inclusion Through Digital Banking
easypaisa said the new solution aligns with the State Bank of Pakistan’s vision of promoting inclusive economic growth through digital financial services. The bank, which became Pakistan’s first digital retail bank to begin commercial operations, continues to expand its portfolio beyond payments into savings, investments and insurance.
The company noted that it successfully launched and scaled its Insurance Marketplace in 2025, improving access to affordable and transparent insurance products across Pakistan.
Pakistan continues to have one of the region’s lowest insurance penetration rates, making digital platforms increasingly important in extending financial protection to underserved communities. Industry experts believe mobile-first products can play a significant role in reaching millions of unbanked and underbanked Pakistanis.
By combining Islamic savings, Takaful protection and digital convenience, easypaisa and EFU Life aim to make long-term financial planning simpler and more accessible for customers seeking Shariah-compliant solutions.
