In a major step toward financial inclusion, Jubilee Life Insurance, Kashf Foundation, and United Nations Development Programme have jointly introduced “Khushal Mustaqbil Takaful (KMT),” a micro-savings and protection solution tailored to strengthen the financial resilience of women in underserved communities.

The partnership was formalized at the Kashf Foundation head office in Lahore, marking a significant milestone in promoting gender-responsive financial products in Pakistan. The initiative aims to bridge the gap in access to insurance and long-term savings tools for women, particularly those with limited financial resources.

KMT is designed specifically for women borrowers associated with Kashf Foundation. It operates as a yearly renewable endowment Takaful plan, combining both protection and savings under a Shari’ah-compliant Wakalah-Waqf model. This dual approach ensures financial support for families in case of unforeseen circumstances, while also enabling women to build long-term savings.

Speaking at the launch, Javed Ahmed emphasized the importance of inclusive financial protection, highlighting the role women play in strengthening household stability. He noted that the initiative reflects a commitment to offering accessible solutions that support both security and financial independence.

Roshaneh Zafar, Managing Director of Kashf Foundation, underscored the broader impact of empowering women financially. She stated that when women invest in their future, it positively influences entire families and communities, making such initiatives critical for sustainable development.

A representative from UNDP Pakistan also highlighted the importance of expanding access to inclusive insurance solutions, particularly for women who remain underserved. The collaboration demonstrates how public and private sector partnerships can deliver innovative and practical financial tools that help communities navigate economic and climate-related challenges.

The initiative builds on Kashf Foundation’s success as a winner of UNDP Pakistan’s Insurance Innovation Challenge under its Insurance and Risk Finance Facility. It is expected to serve as a scalable model for delivering gender-focused financial protection and promoting inclusive economic growth across Pakistan.