Karachi, Pakistan – May, 2024 – Pak-Qatar Family Takaful Limited (PQFTL or the Company), leading provider of Shariah-compliant family Takaful solutions in Pakistan has announced its financial results for the year ended December 31, 2023. PQFTL is part of Pak-Qatar Group, Pakistan premier and pioneer Islamic financial conglomerate. PQFTL is rated ‘A++’ (having a Stable Outlook) by VIS Credit Rating Company Limited and Pakistan Credit Rating Agency (PACRA).
The Board meeting, presided over by Sheikh Ali bin Abdullah bin Thani al-Thani, the Chairman of Pak-Qatar Group, discussed the financial results of the company for 2023 and its future plans for 2024, in the meeting held in Doha, Qatar. It was attended by the Directors – M/s. Said Gul, Abdul Basit Ahmad al-Shaibei, Ali Ibrahim Al Abdul Ghani, Zahid Hussain Awan and Muhammad Kamran Saleem. Overview of Financial Performance: During 2023, Pak-Qatar Family Takaful Limited achieved turnover of PKR 16.30 Billion. Shareholders Fund posted a net profit after tax of PKR 156.30 Million with an EPS of PKR 1.20 per share despite all challenges; while the Participants’ Takaful Fund (Waqf Fund) generated a surplus before distribution of PKR 37.5 Million. The Company has increased its balance sheet footing through impressive growth in its investments and financing portfolio.
About Pak-Qatar Group: Pak-Qatar Group stands as Pakistan’s premier and pioneer Islamic financial services group, offering a comprehensive range of savings and protection solutions that adhere to the principles of Shariah-compliant finance. With steadfast commitment to excellence and strong emphasis on Islamic values, the group encompasses companies such as Pak-Qatar Family Takaful Limited, Pak-Qatar General Takaful Limited, Pak-Qatar Investment (Private) Limited and Pak-Qatar Asset Management Company Limited.
