Pakistan’s leading Islamic financial conglomerate, Pak-Qatar Group, Thursday released its financial results for the year ending December 31, 2022.
The company’s board meetings, chaired by Sheikh Ali bin Abdullah bin Thani al-Thani, the Chairman of Pak-Qatar Takaful Group, reviewed the financial results of Pak-Qatar Family Takaful Limited (PQFTL) and Pak-Qatar General Takaful Limited (PQGTL) for the fiscal year 2022, and discussed the company’s future plans for 2023.
Directors attending the meetings included Abdul Basit Ahmad al-Shaibei, Ali Ibrahim al Abdul Ghani, Said Gul, Muhammad Owais Ansari, Zahid Hussain Awan, Farrukh V. Junaidy, and Muhammad Kamran Saleem.
Despite severe economic and political turmoil, Pak-Qatar Takaful Group (the Group) achieved a consolidated aggregate turnover of PKR 11.44 billion* in 2022.
The Group’s Shareholders’ Fund generated a net consolidated profit after tax of PKR 207 million, while the Participants’ Takaful Fund (Waqf Fund) generated a net consolidated surplus of PKR 151 million. The Group had an average consolidated growth of 9.6% for the year.
Pak-Qatar Family Takaful (PQFTL) reported a profit before tax of PKR 184 million, with an EPS of PKR 1.14, despite all challenges. The aggregated turnover was PKR 10.2 billion, and the total assets under management were at PKR 33 billion.
Pak-Qatar General Takaful (PQGTL) reported a profit before tax of PKR 80 million, with an EPS of PKR 1.14. The aggregated turnover was PKR 1.2 billion, and the total asset base was PKR 2.4 billion.
Overall, Pak-Qatar Group’s financial results for the year 2022 demonstrate the company’s resilience and success in navigating challenging economic and political conditions while maintaining strong financial performance.
