EFU Life appoints MD & CEO

The Board of Directors of EFU Life Assurance Ltd has appointed Mohammed Ali Ahmed as the new MD & CEO of EFU Life as of 10 July 2023, as per a press release. Mr Ahmed has 29 years of professional experience in the life insurance industry and is an actuary by qualification.

Mr Ahmed joined EFU Life in 2002 and, prior to this, worked in the public sector life insurance industry for eight years. In his recent roles at EFU Life, he served as the Chief Strategy Officer before being appointed Deputy MD in 2021.

With an impressive tenure of 21 years with the company, Mr Ahmed brings a wealth of experience, deep industry knowledge, and a steadfast commitment to company values. As a trusted member of EFU Life, he has played an instrumental role in the organisation’s success and growth.

Over the last decade, he has actively developed the enterprise-level strategy for the organisation, working closely with the CEO and the Board of Directors to define, assess and implement strategies in all business areas of the company.

BankIslami announces AA- rating

Pakistan’s leading Islamic bank, BankIslami announces that it has been upgraded to an AA- rating, according to a press release. This prestigious rating reaffirms the bank’s commitment to excellence, sound financial management, and continued growth in the banking industry.

AA- rating is a high-grade rating, indicating that the bank has a very low credit risk and a very strong ability to meet its financial obligations. This is a testament to BankIslami’s robust business strategy, prudent risk management practices, and the unwavering trust placed in the bank by its valued customers.

The achievement highlights the bank’s consistent performance and its ability to navigate through challenging market conditions while maintaining a strong financial position.

President & CEO of BankIslami Pakistan, Syed Amir Ali, expressed his pride in the bank’s achievement, stating, “We are honoured to have been upgraded to an AA- rating, which reflects our ongoing commitment to deliver exceptional services to our customers and stakeholders.”

He further added, “BankIslami Pakistan remains committed to providing innovative, Shariah-compliant financial solutions that empower individuals and businesses to thrive. This upgrade will undoubtedly boost confidence in our bank and enable us to further enhance our offerings, expand our footprint, and strengthen our position as a leading financial institution.”

Emirates 25th anniversary

Emirates celebrates 25 years of successful operations in Peshawar, Pakistan’s sixth-largest city. In 1998, the inaugural flight landed at Bacha Khan International Airport, becoming the second Pakistani city served by the airline.

Since then, the airline has ensured seamless travel connectivity between Pakistan’s North Western city of Peshawar and Emirates’ network, including its hub city of Dubai, carrying over 1.8 million passengers between Dubai and Peshawar and lifting more than 25,000 tonnes of cargo, supporting travel and trade through the export of commodities.

Emirates currently offers five weekly flights to passengers from Peshawar operated with a Boeing 777-300ER wide-body aircraft, capable of carrying up to 428 passengers and 20 tonnes of cargo in the belly hold.

Medina has been the most popular destination for Hajj and Umrah, second only to Jeddah. Other popular spots include the UK (Manchester, London and Birmingham), Turkey, Germany and France, amongst leisure travellers and students pursuing higher education abroad. Business and corporate travellers frequented popular points in China, Japan, Malaysia and Thailand.

Published in Dawn, The Business and Finance Weekly, July 17th, 2023