All Kashmir Traders Federation (AKTF) (Shaher-e-Khaas) has welcomed the decision of J&K Bank chairman Parvez Ahmed on expanding the insurance options further for its customers across the state and beyond.
J&K Bank has recently entered into a tie-up withIFFCO-Tokio General Insurance – a joint venture between one of the world’sbiggest cooperative societies, Indian Farmers Fertilizer Co-operative (IFFCO)and the largest listed insurance group in Japan, Tokio Marine Group.
In a statement, chairman All Kashmir Traders Federation(Shaher-e-Khaas) Muzaffar Jan Ganie said the traders’ body has been seekingsuch tie-ups for long and finally it has matured after chairman J&K Bank approvedit.
“This would help lot of young unemployed youth of Kashmir togain employment and the policy allows minimal premium and all risks arecovered,” said president of the Federation Nazir Ahmad Shah in the statement.Vice-president Tariq Buch, other members including Omar Ganie, Muhammad AfzalMantoo and Aafaq Ahmad have also hailed the move of the bank on partnering withIFFCO-TOKIO as it has low premium for Godowns and risk factors.
Incorporated in 2000, IFFCO-Tokio General Insurance is ajoint venture wherein IFFCO holds 51 percent in the company and the remaining49 percent is held by Tokio Marine Group.