Tribune News Network
Doha
PAK-Qatar Takaful Group Chairman Sheikh Ali bin Abdullah bin Thani Al Thani chaired the meeting of the group’s board of directors, which includes the Pakistani-Qatari General Takaful Company and the Pakistani-Qatari Family Takaful Company.
The meeting was devoted to discussing and approving the financial statements of both companies for the year ending on December 31, 2023, and the Group’s plans. The meeting held in Doha was attended by board members including Dr Abdulbasit Ahmad Al Shaibei, Ali Ibrahim Al Abdul Ghani, Said Gul, Dr Manfred, and Zahid Hussein Awan.
Pakistan-Qatari General Takaful Company Executive Vice President Sakib Zeeshan and PAK Qatar Takaful Group Head of Strategy Sohaib Akhtar also attended the meeting.
Sheikh Ali bin Abdullah expressed his satisfaction with the group’s performance during the past year 2023, hoping that the year 2024 will be another distinguished year for the company to achieve new heights in terms of revenues and profitability and to be able to continue improving its services to keep pace with the best international standards.
He said, “The Pakistani Qatari Takaful Group achieved total sales worth 17.5 billion Pakistani rupees, while the group’s net profit after deducting tax amounted to 257.5 million Pakistani rupees during the year ending December 31, 2023. The Participating Takaful Fund also achieved a consolidated net surplus of 78 million Pakistani rupees.”
The chairman said, “Pak Qatar Family Takaful Company (PQFTL) will distribute cash dividends to its shareholders at a rate of 5 percent, while Pakistan Qatari General Takaful Company (PQGTL) will distribute cash dividends at a rate of 10 percent to its shareholders.”
Sheikh Ali expressed his thanks for the efforts made by the group’s management and employees, he stressed the necessity of working hard to improve performance, respond to competition, increase innovation, and gain the confidence of the widest possible segment of customers in the large Pakistani market.
Pak-Qatar Takaful Group (PQTG) - the first and largest dedicated Takaful enterprise in Pakistan’s Islamic Finance industry, comprises of Shari’ah-compliant ventures like; Pak-Qatar Family Takaful Limited (PQFTL), Pak-Qatar General Takaful Limited (PQGTL), Pak-Qatar Investment (Private) Limited (PQIL) and Qatar Group (Private) Limited.
These ventures are driven by modern technology and a service-culture, to achieve the fastest growth and high credibility, by providing innovative Takaful solutions. The Group has the historic privilege and honor of launching Pak-Qatar Family Takaful Limited as Pakistan’s first and largest Family Takaful Company. The Group of Companies is registered with the Securities & Exchange Commission of Pakistan (SECP). PQFTL and PQGTL commenced Takaful operations in the year 2008.
Pak-Qatar Takaful Group with a vision of “providing financial protection and investment through Takaful to everyone” is not only Pakistan’s pioneer and the largest Takaful group but is also the third largest private-sector corporate conglomerate in the entire insurance industry of Pakistan.
The Group is proudly managing the financial assets book valued at overPKR 46.2 Billion.
Finally, PQFTL is the world’s first Family Takaful operator that has consistently declared and distributed a surplus of over PKR 555 million to Takaful participants since its inception. The Group’s Insurer Financial Rating remains robust, whereby PQFTL is rated “A++” and PQGTL is rated “A+”; while the Outlook of both companies is ‘Stable’.
