KARACHI: Jubilee Life Insurance, in partnership with Kashf Foundation and United Nations Development Programme (UNDP), has launched a new micro-savings and protection product aimed at improving the financial resilience of women in underserved communities.
The product, Khushal Mustaqbil Takaful (KMT), is specifically designed for women borrowers of Kashf Foundation. It is a yearly renewable endowment Islamic insurance plan that combines protection with long-term savings, offering women a structured way to secure their financial future while safeguarding their families.
Built on the Sharia-compliant Wakalah-Waqf Takaful model, the initiative provides dual benefits. It offers financial protection to families in the event of a loss of life, while also helping women steadily build savings over time. This approach supports both immediate security and long-term financial stability.
Javed Ahmed, Managing Director and CEO of Jubilee Life Insurance, said the collaboration reflects the company’s commitment to empowering women with solutions that protect their families and promote financial independence. He highlighted that such initiatives play a vital role in creating sustainable economic opportunities.
Roshaneh Zafar, Managing Director of Kashf Foundation, подчеркнула the importance of women’s financial empowerment, noting that when women invest in their future, it positively impacts not only their own lives but also the well-being of their families and communities.