Pak-Qatar Takaful Group posts net profit of Rs133m

Our Special Correspondent

Karachi

Pak-Qatar Takaful Group has registered an immense growth during the preceding year with an aggregate turnover of around Rs9 billion. The Group posted a net profit after tax of Rs133 million during the year ended 31-December-2017, while its participant Takaful Fund generated the net consolidated surplus of Rs116 million.
Pak-Qatar Takaful Group, which comprises of Pak-Qatar Family Takaful Limited and Pak-Qatar General Takaful Limited, reviewed and approved the financial statements of both the Companies for the year ended December 31, 2017, during the Group’s Board of Directors meeting. Pak-Qatar Takaful is Pakistan’s Pioneer and largest Takaful Group operating for more than a decade with the largest branch network nationwide.
The meeting was chaired by Sheikh Ali Bin Abdullah Al-Thani, other Board members were present in the meeting included Said Gul, Abdul Basit Ahmad Al-Shaibei, Ali Ibrahim Al-Abdul Ghani; Zahid Hussein Awan, Owais Ansari and Furrukh Vaqaruddin Junaidy. Sheikh Ali praised the Group’s remarkable performance during the year 2017.
Pak-Qatar Family Takaful Limited (PQFTL), is the first and largest dedicated Family Takaful Company in Islamic Finance industry. PQFTL is one of the fastest growing Family Takaful operators in the country with more than 70 branches in over 41 cities, in addition to over 3,500 bank branches in over 200 cities that provide BancaTakaful products.
The Company’s paid-up capital is in excess of Rs1.250 billion, with a credit rating of ‘A’ (Positive Outlook) by JCR-VIS Credit Rating Company Limited. The company is the recipient of “Best Takaful Operator Award” from the International Takaful Summit, London, as well as from IFN Redmoney, Malaysia and the Best Takaful Company Award by the President of Pakistan from RTC, Islamabad.
Pak-Qatar General Takaful Limited offers a comprehensive products’ portfolio for the national General (non-life) Takaful market. The Company’s paid-up capital is in excess of Rs509 million, with a credit rating of ‘A-’ (Stable Outlook) by the JCR-VIS Credit Rating Company Limited and ‘A’ Rating with Stable Outlook by Pakistan Credit Rating Agency Limited.
Pak-Qatar Family Takaful Limited and Pak-Qatar General Takaful Limited are chaired by Sheikh Ali bin Abdullah Al-Thani and sponsored by some of the strongest financial institutions from the State of Qatar.

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