DIBPL partners with Salaam Family Takaful
Dubai Islamic Bank Pakistan Limited has entered into a strategic partnership with Salaam Family Takaful Limited by signing a Memorandum of Understanding at the DIBPL Head Office in Karachi, as per a press release. This collaboration aims to transform Shariah-compliant financial solutions by integrating innovative savings and investment opportunities with life Takaful coverage, to be launched soon.
The signing ceremony was attended by senior executives from both organisations, highlighting their shared commitment to promoting financial inclusion and stability through tailored Islamic financial products.
Through this partnership, DIBPL customers will gain access to Salaam Family Takaful’s comprehensive savings and investment plans designed to secure their financial future while providing life protection. The upcoming offerings will address diverse financial goals and protection needs, ensuring peace of mind for families across Pakistan.
SPL upgrades its paper machine
Security Papers Limited has officially signed an agreement with Giesecke+Devrient, Germany, for the upgradation of its paper machine PM-2 as per a press release. This project aims to enhance SPL’s production capabilities to meet the latest international trends and incorporate advanced security features for banknote paper to accommodate the evolving requirements of the State Bank of Pakistan, which recently announced the launch of a new banknote series.
The agreement for the upgradation was officially formalised during a signing ceremony at SPL’s head office in Karachi. Imran Qureshi, CEO of Security Papers Limited, signed the agreement on behalf of the company, while Claudio Sgarlata, Managing Director Middle East and Africa for the Currency Management Solutions business of global SecurityTech company Giesecke+Devrient, represented G+D.
The estimated cost of the project is Rs3.4 billion, which includes an international tender worth €8.297 million awarded to Giesecke+Devrient. The upgradation is expected to be completed within 18 months, during which SPL’s Paper Machine PM-2 will be enhanced to produce banknote paper with the latest security features.
KE’s anti-theft drive in Gadap
With the support of law-enforcement agencies, the K-Electric carried out an anti-theft drive in Gadap, removing 645 illegal connections (kundas), weighing a total of 800kg from K-Electric’s infrastructure, as per a press release.
These illegal connections were involved in the theft of 1.8 million units of electricity per month, causing disruptions in the appropriate supply of power distribution along the superhighway.
Meanwhile, losses on 11kV feeders energising the M-9 Corridor have significantly declined, contributing to a more stable power distribution network.
The efforts have revolved around eliminating illegal connections, improving the network, and ensuring a steady electricity supply. Spanning an extensive stretch, the initiative focuses on stable power utility without any interruption, serving the community along the M9.
KE also remains committed to protecting its infrastructure and maintaining the network stability of load-shed exemption to 70pc areas by continuing its efforts to reduce losses in the remaining areas and ensuring reliable and safe electricity supply for all. Electricity theft and non-payment of bills are the two key factors that determine the loss profile of any area.
Health clinics for the underserved
Bayer Foundation, Bayer’s corporate foundation supporting social innovation, has supported Mezrab, a non-profit organisation in Pakistan, with a grant that enables the launch of three primary health clinics in the underserved urban neighbourhoods of Karachi, as per a press release.
Formally inaugurated on March 11, the Pehli Kiran Family Health Clinics will provide sustainable primary healthcare with a focus on women’s reproductive health.
Each of the three clinics will be staffed by a small team including a doctor, lady health visitor, and attendant and will provide primary healthcare including reproductive health, contraceptive access, and identification and referral for victims of gender-based violence.
This initiative therefore addresses the dual challenges of healthcare access and gender inequality by ensuring the availability of trained female health providers in underserved urban communities. Patients may also avail themselves of a teleconsultation facility at the clinic and will be able to access prescription medicine as needed.
Published in Dawn, The Business and Finance Weekly, March 17th, 2025
