The United Insurance Company of Pakistan Limited has announced its intention to enter the Family Takaful business and approved the sale of its entire shareholding in Apna Microfinance Bank Limited to Mobilink Microfinance Bank Limited.
- The Board of Directors approved the entry into the Family Takaful business and is seeking regulatory approvals from SECP.
- The sale of shares in Apna Microfinance Bank is part of a proposed transaction with Mobilink Bank, subject to necessary approvals.
- The proposed transaction remains contingent on successful negotiations, due diligence, and execution of definitive agreements.
- No definitive agreement has been executed at this stage, and commercial terms are still under finalization.