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Pak-Qatar Family Takaful opens new branch near Expo Centre, Karachi

Karachi, July 18, 2019: Pak-Qatar Family Takaful Limited (PQFTL) opened its new branch near Expo Centre, on main university road, Karachi. The new branch was inaugurated by CEO, Muhammad Nasir Ali Syed, Pak-Qatar Family Takaful and Deputy CEO of Pak-Qatar Family Takaful, Muhammad Menhas along with management team members.

This new branch will create great convenience and provide a wide range of Takaful services to a vast number of consumers, living in Gulshan-e-Iqbal and its surrounding areas.

Nasir Ali Syed said that he is very pleased to inaugurate the new branch and appreciated the regional team’s commitment and dedication to the long-term promotion of Takaful across Pakistan.

Menhas further added that the new branch near Expo Centre aims to deliver a complete suite of services to its participants. The branch is the result of PQFTL’s vision of providing financial protection through Takaful, to everyone. It will be a one-stop-shop for the Takaful needs of its participants and hope to further augment our members experience through this branch.

Pak-Qatar Family Takaful Limited (PQFTL), the first and largest dedicated Family Takaful Company in the Islamic Finance industry. PQFTL is a progressive and a technology-driven Shari’ah Compliant company providing innovative Takaful solutions in Pakistan since 2007. PQFTL is the fastest growing Family Takaful operator in the country.

Incorporated in 2006, and beginning operations in 2007, the company is registered with and supervised by, the Securities and Exchange Commission of Pakistan (SECP). An independent Shari’ah Advisory Board chaired by Mufti Muhammad Hassaan Kaleem certifies all products and operations for Shari’ah compliance.

The company is rated “A+” (having Stable Outlook) by JCR-VIS Credit Rating Co. Limited and Pakistan Credit Rating Agency (PACRA). The Company’s paid-up capital is in excess of Pak- Rs. 1.3 billion, which is the highest in the industry.

PQFTL has a vision of providing financial protection through Takaful to everyone. The company’s shareholders include some of the strongest financial institutions in the state of Qatar such as Qatar Islamic Insurance Company (QIIC) and Qatar International Islamic Bank (QIIB). 

The company is further strengthened by its Re-Takaful arrangements with Munich-Re and Hannover Re. Pak-Qatar Family Takaful Limited has strategic BancaTakaful alliance with FWU AG, a leading life insurance company based in Munich (Germany), for distribution of Takaful policies through banking channels.

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Pak-Qatar Family Takaful Limited has one of the largest Takaful branch networks across Pakistan (over 70 branches in 60 cities), in addition to over 3,500 bank branches in over 200 cities that provide BancaTakaful products.

With more than 700,000 individual covered members and over 950 corporate members, the company believes in technological advancement and has a presence on all digital mediums thus enabling the customers to keep in touch 24/7 via modern web portals and mobile applications.

Pak-Qatar Family Takaful Limited is recipient of several domestic and international awards and nominations including ‘Best Takaful Company’ by Global Islamic Finance Awards in London 2018, ‘Brand of the Year’ at the FPPCI Awards in Karachi 2018, ‘Best Takaful Operator’ by IFN Awards in 2017, 

‘Best Takaful Operator in Pakistan’ award at the 10th International Takaful Summit London 2016 and ‘Best Takaful Company in Pakistan’ for the year 2015 at ‘RTC Islamic Banking & Finance Awards’ ceremony in Islamabad.

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