Salaam Takaful Limited and National Foods have inked a Memorandum of Understanding (MoU) to launch a strategic partnership, introducing Parametric-based Crop Takaful coverage for farmers.
The collaboration will kick off with a pilot project in the Sindh region, providing comprehensive weather-related risk coverage specifically tailored for tomato farmers. Salaam Takaful has previously established key alliances, such as a flagship project with Syngenta Pakistan for wheat and maize farmers and a groundbreaking partnership with Jazz Cash for nationwide Islamic insurance solutions.
This partnership expands Salaam Takaful’s reach, integrating parametric solutions into Digitt Plus’ platform and extending coverage to potato farmers with Fauji Fresh n Freeze. Collaborations with Hamara Kissan Pvt Ltd for sunflower growers in Sindh, Digital Dera, and Concave Agri further enhance weather risk coverage. Salaam Takaful’s participation in the InsuResilience Global Partnership underscores its commitment to sustainable insurance solutions.
Rizwan Hussain, Managing Director & CEO of Salaam Takaful Limited, expressed excitement about the partnership, emphasizing their goal to provide comprehensive Islamic insurance coverage for farmers. This aligns with their vision to create a resilient ecosystem against climate change, in line with UNSDGs 2, 3, 8, 11, 13, and 17.
Abrar Hasan, CEO of National Foods, shared his enthusiasm, stating that the initiative aims to enhance the resilience and prosperity of farming communities. The partnership not only safeguards individual farmers’ livelihoods but also contributes to the stability and sustainability of the entire agricultural value chain.
Salaam Takaful, a leading takaful operator, is transforming agricultural insurance through Parametric Crop Takaful, ensuring farmers’ financial security with trigger-based automatic claim payouts. Actively contributing to financial inclusion and resilience in farming, Salaam Takaful collaborates with stakeholders across the agricultural value chain.
