JazzCash, the leading fintech organisation in Pakistan, has unveiled its latest offering, the Islamic Savings product. It boasts the highest daily halal profit rates in the market.
This innovative product provides customers with attractive profit rates and includes a complimentary accidental insurance feature upon subscription. This additional benefit offers a safeguard against unforeseen events, enhancing their financial security.
The timing of this launch is pivotal in Pakistan’s journey towards financial inclusion. Addressing key barriers that have hindered the widespread adoption of digital financial services across the country.
Murtaza Ali, Head of JazzCash, emphasized the organization’s commitment to developing products that cater to the needs of the Pakistani populace. He highlighted the significance of the Shariah-compliant Savings product in bridging a crucial gap that previously deterred individuals from embracing fintech solutions.
Ali expressed gratitude to Salaam Takaful for their collaboration in providing free accidental insurance to subscribers of the Islamic Savings product, reinforcing JazzCash’s commitment to ensuring the well-being of the communities it serves.
The Islamic Savings feature, seamlessly integrated into the JazzCash App, offers users a user-friendly platform to manage their savings effortlessly. This empowering solution enables individuals to set savings goals, track progress, and access funds conveniently.
JazzCash Collaborate with Salaam Takaful
With JazzCash’s Shariah-compliant savings, customers can earn halal profits through daily disbursements. With the flexibility to withdraw savings at any time without locking their funds. The collaboration with Salaam Takaful activates accidental insurance coverage upon reaching 20% of the savings goal. It offers an additional layer of financial security for customers and their families.
Despite Pakistan’s vast potential, low financial penetration persists, partly due to religious sentiments affecting people’s willingness to adopt financial services. Limited access to Shariah-compliant financial products further exacerbates the situation, leaving a significant portion of the population underserved.
Savings products serve as crucial entry points into the formal financial system, empowering individuals to build economic security and stability. By introducing Islamic Savings, JazzCash aims to facilitate greater financial resilience within society, providing a platform for individuals to optimize financial planning and build a more secure future.
