SAFCO Microfinance Company Enters Into Service Level Agreement with Sindh Insurance Company for Providing Insurance Services

• News By : Web Desk
• 2024-06-15 08:51:59

14 June 2024: SAFCO Microfinance Company Enters Into Service Level Agreement with Sindh Insurance Company for Providing Insurance Services
Hyderabad: SAFCO Microfinance Company (SMCL) has officially entered into a Service Level Agreement (SLA) with the Sindh Government's Sindh Insurance Company to provide insurance services. This partnership aims to extend the benefits of Sindh Insurance Company's services to SAFCO's program-affiliated community groups, individual households, and staff members as part of SAFCO's commitment to social responsibility.

Sindh Insurance Company, established in 2016, offers a substantial insurance benefit of Rs. 1 lakh to the next of kin in cases of accidental death in Sindh, with no prior registration required. The agreement, signed yesterday by Suleman G. Abro, Founder and Leader of the SAFWCO Group, and Muhammad Faisal Siddiqui, Executive Officer of Sindh Insurance Company, took place at the SAFWCO Group head office.
During the signing ceremony, Suleman G. Abro expressed his commitment to extending this crucial service.

"This partnership ensures that the employees of the Sindh Agricultural and Forestry Workers Coordinating Organization, SAFCO Microfinance Company, and SAFCO Support Foundation, along with millions of individuals associated with SAFCO's programs, will be eligible for the insurance benefits."
Abro emphasized the importance of this initiative, noting that the Sindh government provides insurance compensation for every accidental death in Sindh without the need for registration. He highlighted the ease and accessibility of the process, ensuring that every eligible person receives the insurance payout.

Syed Sajjad Ali Shah, Managing Director of SMCL, welcomed the guests and discussed the significant advantages of having insurance. CEO Muhammad Faisal Siddiqui of Sindh Insurance Company briefed the attendees on the insurance program and shared hopeful news about potential increases in the insurance payout amount, aiming to raise it to Rs. 3 lakh in the future.

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