Pakistan’s leading Islamic financial conglomerate, Pak-Qatar Group, Thursday released its financial results for the year ending December 31, 2022.
(more…)Tag: Pak-Qatar Takaful
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PQFT, Emaan Islamic Banking collaborate to offer health Takaful plan
KARACHI: Pak-Qatar Family Takaful (PQFT) and Emaan Islamic Banking (a division of Silk Bank) Collaborate to Offer Health Takaful Plan.
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PQFTL, U Bank sign BancaTakaful agreement
KARACHI: Pak-Qatar Family Takaful Limited (PQFTL) and U Microfinance Bank (U Bank), Pakistan’s fastest-growing microfinance bank, have strategically signed a landmark BancaTakaful agreement, according to a statement issued on Monday.
Under this collaboration, family Takaful products will be offered through U Bank’s distribution network, which is amongst the largest microfinance banking branch network in Pakistan.
The Memorandum of Understanding (MoU) of this partnership was signed by Ms. Mariam Pervaiz, Chief Commercial Officer & Chief of Staff – U Microfinance Bank and Azeem I. Pirani – CEO, Pak-Qatar Family Takaful Limited, while the signing ceremony was presided over by Kabeer Naqvi, President and CEO – U Microfinance Bank, in the presence of senior management officials from both the collaborating organizations.
At the occasion, Azeem Pirani said: “We are pleased to partner with one of the leading microfinance banks in Pakistan having one of the largest distribution networks.
“We are confident that this partnership will help us to take forward our long-term vision of providing financial protection through Takaful to everyone and it is always encouraging to work with like-minded partners link U Bank who share the same goals and approach towards offering need based, and appropriately priced, financial solutions to the citizens of Pakistan.”
Kabeer Naqvi, President and CEO – U Microfinance Bank, stated: “We are glad that the fruit of U Bank’s financial inclusion and expansion efforts, along with our partnership with Pak-Qatar Family Takaful Ltd. can be translated into enhanced accessibility of Islamic financial services services to the banking customers through U Bank’s network.
“This mutually beneficial collaboration is key for building harmonized industry relations and gives us an exciting opportunity to introduce Takaful services at U Bank.”
The partnership agreement is aimed at offering tailor-made BancaTakaful products to customers and is an important milestone for both the companies within the local financial services ecosystem.
The partnership will pave way for world-class Takaful products, which will be introduced in a phased roll-out manner across U Bank’s extensive network of over 250 branches nationwide currently.
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PQAMCL gets approval to launch investment schemes
KARACHI: Pak-Qatar Asset Management Company Limited (PQAMCL) has announced to get approval for the launch of Shariah Compliant Collective Investment Schemes (Mutual Funds).
In a statement PQAMCL said that the Securities and Exchange Commission of Pakistan (SECP) had accorded approval for the launch of the scheme.
PQAMCL is going for Initial Public Offering (IPO) of its funds. The company obtained its license to operate as an Asset Management Company and Investment Advisor in December, 2021.
It obtained approval to launch three (03) Shariah Compliant funds along with six (06) plans catering needs of masses. PQAMCL, being a group company having strong takaful arms will augment Takaful benefits with its investment plans.
On the launching of the schemes, Farhan Shaukat, CEO, Pak-Qatar Asset Management Company Limited said: “We are pleased to announce obtaining approval to offer a wide variety of Shariah Compliant collective investment schemes with a flavor of Takaful which is unique in the existing market that allows our customers to diversify their investment portfolio.
“We are also the second company that is exclusively offering the Shariah Compliant Collective Investment Schemes in Pakistan. We aim to encourage our customers to invest in our funds that are designed specifically for their investment needs. We are looking forward to providing the best investment solutions in the country to our customers.”
PQAMCL has a vision to “improve people’s lifestyles through the right investments with Riba-free returns”. With our expertise, we aim to offer our valued customers with the best-in-class technology advanced investment solutions, mutual funds, and investment advisory services.
Pak-Qatar Asset Management Company Limited is a part of the Pak-Qatar Group, which comprises of Pak-Qatar Family Takaful Limited (PQFTL), Pak-Qatar General Takaful Limited (PQGTL), and Pak-Qatar Investment Limited (PQIL).
The Group has been operating in Pakistan since 2007 and has a rich and diverse experience of more than 15 years in providing protection and investment solutions through Takaful. PQAMCL is registered with and supervised by, the Securities and Exchange Commission of Pakistan (SECP). A Qualified Shariah Scholars certify all products and operations for Shariah compliance.
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PQGTL inks deal to promote Takaful products online
KARACHI: Pak-Qatar General Takaful (PQGTL) has signed an agreement with Cometinsure (Online aggregator) to promote Takaful products online.
Muhammad Raza (Head of Operations, PQGTL) and Muhammad Sufyan Bedi (Operations Manager, Cometinusre) signed the agreement along with senior officials of both companies.
Muhammad Raza while speaking at the signing ceremony stated, “We are extremely delighted to join hands with Cometinsure as customers will benefit from searching Takaful products online and our reach will also increase to spread awareness about Takaful products. These kind of partnerships are very fruitful for offering convenience to customers.”
Sufyan while expressing his views said, “We are very excited to partner with Pak-Qatar General Takaful in our urge to digitalize Insurance/Takaful distribution channel. This partnership will surely bring benefits to all the customers of Cometinsure and Pak-Qatar General Takaful by bringing ease of purchasing adequate Takaful coverage and swift claim processing.”
Cometinsure being the most successful and fastest-growing insurance aggregator is taking some huge steps to satisfy their customers by providing suitable and befitting quotes in no time.
A company originated in 2017 has now become a revolutionary platform that distributes the best Insurance/Takaful quotes by allying with the Top Rated Insurance Companies.
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Pak-Qatar Takaful, PakWheels ink pact for auto products
KARACHI: Pak-Qatar General Takaful has signed a Memorandum of Understanding (MoU) with PakWheels.com to promote auto Takaful products to its customers.
Mehmood Arshad, Country Head – Marketing Pak-Qatar General Takaful and Suneel Sarfaraz Munj, Chairman PakWheels.com signed the Memorandum of Understanding along with senior officials, said a statement on Monday.
Since its inception in 2003, PakWheels.com has helped millions of Pakistanis buy and sell automobiles, read automotive reviews and news, check automotive prices and find solutions to all of their automotive needs.
PakWheels.com gets over 25 million visitors annually who view more than 250 million pages on the website. Last year alone, close to 50 per cent of Pakistan’s internet population visited PakWheels.com to buy and sell over 400,000 vehicles.
While speaking at the signing ceremony, Mehmood Arshad stated: “It is indeed great honor for us to join hands with PakWheels.com as this partnership will bring fruitful results for both business partners. Also, masses will benefit from seeking protection for their vehicles in case of any untoward incident.”
Suneel Sarfaraz Munj, Chairman PakWheels.com commented: “We are glad to sign this Memorandum of Understanding with Pak-Qatar General Takaful as we are hopeful that our customers will benefit from Motor Takaful coverage offered by PQGTL.
I am confident that such kind of partnerships will further offer convenience to online customers.”
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Pak-Qater signs deal to provide online Takaful services to HashMove clients
KARACHI: Pak-Qatar General Takaful (PQGTL) has signed a MoU with HashMove (a global multi-modal logistics platform) to provide online Takaful coverage for cargo (Sea/Air/Warehousing & Land) for businesses in Pakistan.
The purpose of this agreement is to enter into a strategic collaboration, enabling marine and fire Takaful service for sea/air and land cargo and commodities trading via digital mediums allowing corporates, businesses, customers of HashMove logistic platform such as importers, of freight forwarders, customers of ground transportation, customers of warehousing companies within Pakistan.
This is the first time a Takaful Insurance company provides the digital coverage to the logistics businesses allowing them to conduct their export and import with full coverage. The companies aim to achieve at target of issuing at least 1000+ coverage / year to begin with.
Talking at the occasion, CEO of Pak-Qatar General Takaful, Muhammad Nasir Ali Syed said: “The need of marine coverage by Takaful through digital channel will open a new door for the businesses to grow at a much faster rate with convenience at fingertips.
“This is the need of the hour and my team is fully committed to extend cooperation and support where needed. Pak-Qatar Takaful has always maintained the position of a leader and firmly believes in offering innovative products through interesting projects and this time we are very excited to offer coverage through our business partner HashMove.”
Sarfaraz Alam, CEO HashMove stated; “Pak-Qatar General Takaful is the leading Takaful coverage provider in Pakistan and a trustworthy name for settling claims against losses.
“We are glad that our customers within Pakistan & South Asia will be able to avail Takaful coverage on real time basis. This is the one of the biggest milestones in the logistics industry in Pakistan and we have witnessed upward growth since last 2 years.”
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PQGTL signs agreement with Gabitt
KARACHI: Pak-Qatar General Takaful Limited (PQGTL) has signed an agreement with Gabitt, a ride hailing service.
The ceremony, which was held recently, was attended by Nasir Ali Syed, CEO Pak-Qatar General Takaful Limited and Farhan Ahmed, CEO L1 Solution Private Limited along with other senior officials from both the companies.
Through this strategic alliance, the users and driving partners of Gabitt will have an opportunity to avail various coverage solutions specifically designed and developed by Pak-Qatar General Takaful.
While speaking on the occasion, Nasir Ali Syed said: “This agreement with Gabitt will surely bring a positive change in the life of the driving partners as they are more prone to risks when they are out on the roads.
“Offering complementary Takaful Coverage will give them the much needed comfort and peace of mind that will eventually translate into a better performance, required social security and enhanced loyalty.
“Moreover, the optional coverage solutions, available to them online, will allow driving partners and users of Gabitt to avail coverage needs efficiently without any hassle.”
Farhan Ahmed on the occasion said, “We realize how important our driving partners are to us and we consider them as our family members.
“Therefore, their protection and comfort has been our top priority.
“I hope this collaboration will be beneficial for both Pak-Qatar Takaful and Gabitt which will further lead to a long-term business relationship.”