CDC and Salaam Family Takaful sign an agreement to enhance transparency and efficiency in the insurance industry through centralized information sharing and repository systems
Central Depository Company of Pakistan Limited and Salaam Family Takaful Limited have signed an agreement for the latter’s participation in the Centralized Insurance Repository and Information Sharing Solution (CISSII). This collaboration represents a major advancement in Pakistan's insurance and takaful sector, focusing on enhancing transparency, efficiency, and digitalization. Newly licensed by SECP, Salaam Family Takaful Limited is First Ever Digital-only Islamic life insurance provider, committed to supporting the growth and development of the insurance industry. By joining forces with the Central Depository Company of Pakistan Limited (CDC), Salaam Family Takaful Limited aims to leverage CDC’s state-of-the-art technological platform and extensive experience in similar projects.
The Centralized Information Sharing Solution for the Insurance Industry (CISSII) and Centralized Insurance Repository (CIR), developed and administered by CDC, are key cross-industry systems that facilitate the sharing of critical policy-related information among stakeholders. Launched in 2014 and 2020 respectively, these initiatives have laid the foundations for formal information-sharing mechanisms and have harmonized the industry’s data-sharing practices.
