Bank Alfalah partners with JLICL for 24×7 cash collection through Pakistan’s largest CDM network – Latest News – The Nation


KARACHI – Bank Alfalah Limited (BAFL), the country’s leading financial institution, and Jubilee Life Insurance Company Limited (JLICL), Pakistan’s largest private sector insurer, have met and signed a Memorandum of Understanding for the collection of cash 24 hours a day through the Bank Alfalah CDM network.
The signing ceremony took place at the head office of Bank Alfalah in Karachi. With this integration, customers and JLICL sales force will be able to deposit their insurance premiums/assessments in real time via CDM (Cash Deposit Machine) in a secure manner.
Bank Alfalah Limited (BAFL) is one of Pakistan’s largest financial institutions and one of the industry’s most influential leaders in innovative digital banking products. Over the past 2 years, Bank Alfalah has built Pakistan’s largest network of cash deposit machines – spanning multiple cities and offering various useful cash deposit transactions to any customer without a valid CNIC appointment. These services are available 24 hours a day and without the need to use an ATM or debit card.
Jubilee Life Insurance Company Limited (JLICL) is a well-known and leading private sector life insurance company that offers various customized insurance products to its customers. Along with its various insurance products for individuals and businesses under conventional and Islamic modes of insurance, the company thrives on bringing best practices and world-class solutions to the financial needs of its clients. Taking a step forward in this aspiration to make buying insurance simple and hassle-free for its customers in the digital age, Jubilee Life now guarantees its customers new and more convenient payment methods by offering various electronic payment solutions. .

Speaking at the event, CEO of Bank Alfalah Limited, Atif Bajwa said, “Digital banking and insurance have a bright future together and they are quite rapidly transforming the criteria for collecting cash in Pakistan, with customers preferring to many online channels to traditional channels. Our partnership with Jubilee Life Insurance will provide customers with non-stop and secure cash deposit service through Bank Alfalah CDMs.
CEO of Jubilee Life Insurance, Javed Ahmed” said; “Our customers have always been our top priority. We are very pleased to partner with Bank Alfalah to help our customers pay their premiums in an easy and convenient way. With the addition of this option, we now offer more premium payment choices to our customers than any other insurer in Pakistan.


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