Walee Financial Services and EFU Life Partner to Expand Takaful Access Across Pakistan.
Walee Financial Services has announced a strategic partnership with EFU Life through its Islamic digital nano-financing platform, Hakeem, to distribute affordable Takaful solutions, providing Shariah-compliant financial protection and inclusion opportunities for families across Pakistan.
With over 1.3 million downloads in its first year, the partnership connects Hakeem’s rapidly expanding digital user base with EFU Life’s trusted portfolio of Takaful products. Together, they aim to make access to financial protection simpler, more transparent, and easier for millions of Pakistanis seeking inclusive solutions.
Through this collaboration, Hakeem will offer a suite of innovative Takaful products designed by EFU Life to provide comprehensive life and health protection tailored to its users’ needs. The portfolio includes plans covering natural and accidental death, hospitalization, disability, and critical illness, along with income continuation and family support benefits, ensuring long-term financial stability and peace of mind.
Commenting on the partnership, Mr. Azeem Iqbal Pirani, Executive Director and COO of EFU Life, added:
“Hakeem represents a forward-thinking partner with a clear vision for empowering underserved communities through Shariah-compliant financial solutions. We are excited about the potential this partnership holds and look forward to seeing it evolve into a model for how digital innovation and Takaful can help masses across Pakistan”.
Expanding Access to Ethical Financial Protection
The initiative introduces EFU Life’s Takaful protection offerings directly into the Hakeem Easy Finance mobile app, allowing users to subscribe to Takaful coverage seamlessly without paperwork, branch visits, or complex processes. For many low-income Pakistanis, this represents their first-ever access to formal financial safety nets that align with Islamic principles.
“This collaboration opens the door to a range of future opportunities, including the development of women-focused and savings-oriented Takaful products. Together with Hakeem, we aim to make Shariah-compliant financing and protection more accessible and inclusive, ultimately helping more Pakistanis benefit from ethical financial solutions”, shared Nilofer Sohail, General Manager at EFU Life, highlighting the partnership’s focus on inclusive digital delivery.
Through this partnership, both organizations are helping redefine how Islamic financial products reach underserved markets; transforming what was once a privilege for the few into a right for every household.
Empowering Communities Through Faith-Aligned Innovation
Both organizations share a mission to promote financial inclusion grounded in Islamic ethics. Through this collaboration, individuals who previously lacked access to formal insurance can now safeguard their families, income, and health in a manner consistent with their beliefs.
With Hakeem’s strong digital infrastructure and EFU Life’s credibility in the Takaful sector, the partnership delivers a practical model of how innovation and faith can work together to build financial dignity and resilience.
Dr. Rashid Mansoor, Head of Shariah at Walee Financial Services, remarked,
“True financial security is not achieved through transactions, but through trust, transparency, and shared responsibility. Takaful embodies these values, ensuring that protection comes without compromise to faith. Alhamdolillah, this partnership with EFU Life is more than a product launch — it is a step toward nurturing a generation that is financially aware, ethically conscious, and spiritually secure.”
A Milestone for Pakistan’s Islamic Fintech and Insurance Ecosystem
This partnership stands as a milestone in advancing Pakistan’s Islamic finance ecosystem, expanding financial protection to communities historically left outside the system. By combining digital reach with institutional expertise, EFU Life and Hakeem aim to empower millions of low-income families with affordable, faith-aligned financial security.
Noshad Minhas, Chief Executive Officer and Co-Founder of Walee Financial Services (Hakeem), remarked,
“Hakeem is built for underbanked communities, empowering them with access to fair, faith-based finance that helps them move upward on the economic pyramid. Earlier, reaching the lowest segments of society — the most deserving — was not easily possible. With Hakeem’s success and deep digital market penetration, we’re now enabling our partners in Islamic finance to extend their reach through our app. Our collaboration with EFU Takaful marks the first of many such partnerships, making protection and prosperity more inclusive, digital, and truly Shariah-aligned.”
About Walee Financial Services
Walee Financial Services is a licensed & Shariah Certified, Non-Banking Financial Company in Pakistan dedicated to creating innovative and inclusive financial solutions rooted in Islamic principles. Through data intelligence, technology, and strong Shariah governance, the company aims to redefine access to finance for millions of Pakistanis. Its flagship product, Hakeem, is Pakistan’s first Islamic nano-financing platform and continues to serve underserved communities nationwide.
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For further information about Walee Financial Services, please visit www.hakeem.tech.
