State Life signs MoU with UBL for Cash Management Services

State Life signs MoU with UBL for Cash Management Services

F.P. Report

KARACHI: State Life Insurance Corporation of Pakistan (State Life) signed an MOU with United Bank Limited (UBL) at a ceremony recently held in Karachi. Mr. Shoaib Javed Hussain, Chairman State Life and Mr. Shazad G. Dada, President & CEO UBL were present at the ceremony. Senior officials from both organizations were also in attendance at the occasion.
Through this MOU, UBL strengthen its business relationship with State Life by providing Cash Management Services through both the bank’s branch network and, as Pakistan’s ‘Best Digital Bank’ through its alternate delivery channels, including Internet Payment Gateway. UBL will also manage State Life’s fund disbursements along with providing them with Employee Banking services to their employees.
Shoaib Javed Hussain, Chairman State Life, said at the event, “it is a pleasure to announce the strategic partnership between State Life and UBL at the start of State Life 50th anniversary. The partnership brings together two leading organizations of Pakistan with the shared vision of enduring inclusion and protection of people of Pakistan across all strata of society with the goal of increasing economic activities in the country. The partnership will greatly facilitate State Life’s esteemed policyholders through digital solution and services. The partnership will also extend the social protection products to UBL employees and customers, like-wise UBL’s offering to State Life’s dedicated employee. We see this step as beginning of a successful and everlasting partnership between the great Pakistani entities”.
Shazad G. Dada, President & CEO UBL, added “I am truly delighted that we are entering into a strategic alliance with State Life, the largest life insurance company of Pakistan. We will work closely with State Life in all areas of mutual interest to ensure that we provide to them the best digital solution. We look forward to becoming State Life’s exclusive partner for all their financial requirements.”

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