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Pak-Qatar Family Takaful Ltd – An innovative Takaful mainstay

Pak-Qatar Family Takaful Limited (PQFTL), the first and largest dedicated Family Takaful Company in Islamic finance industry. PQFTL is a progressive and a technology-driven Shariah-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). Its independent Shariah Advisory Board chaired by Mufti Muhammad Taqi Usmani certifies all products and operations for Shariah compliance.

The company is rated “A” (having Positive Outlook) by JCR-VIS Credit Rating Co. Limited and Pakistan Credit Rating Agency (PACRA).

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), Qatar International Islamic Bank (QIIB), Masraf Al Ryan with a combined asset base of more than US$37 billion and equity over US$5 billion. 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.

Pak-Qatar Family Takaful Limited has one of the largest Takaful branch networks across Pakistan (over 60 branches in 41 cities). With more than 550,000 covered members and over 1,100 corporate clients, the company believes in technological advancement and has 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 Operator in Pakistan’ award at the 10th International Takaful Summit London 2016 and ‘Best Takaful Company in Pakistan’ for the year 2015 at ‘Islamic Banking Awards’ ceremony, (Return).

2017 financial performance

Pak-Qatar Takaful Group, which comprises of Pak-Qatar Family Takaful Limited and Pak-Qatar General Takaful Limited, reviewed the companies’ performances during the current financial year ending on 31 December 2017, in their Board meetings held at the Head Office of International Islamic Bank at Grand Hamad Street.

Board reviewed and deliberated on the companies’ prevailing performances during the current year and advised some measures to be taken to further strengthen Group’s performance and sustainability. Board also discussed other possible business opportunities that can be considered alongside the Takaful business, in order to further improve and strengthen the corporate image of the Group.

Pak-Qatar Takaful Group registered an aggregate combined turnover of Rs6.9 billion till 31st October 2017.

The Company’s paid-up capital is in excess of Rs710 million, with IFS (Insurer’s Financial Strength) Rating of ‘A’ (Stable Outlook) by JCR-VIS Credit Rating Co. Ltd and Pakistan Credit Rating Agency Limited.

Pak-Qatar General Takaful Limited offers a comprehensive products’ portfolio for the General (non-life Islamic Insurance) Takaful market. The company’s paid-up capital is in excess of Rs. 471 million with IFS (Insurer’s Financial Strength) rating of ‘A-’ (Future Outlook, Stable) by the JCR-VIS Credit Rating Company Limited; as well as, IFS Rating of ‘A’ with Stable Outlook by Pakistan Credit Rating Agency Limited.


Vision, mission & core value
  • Providing financial protection through Takaful, to everyone.
  • Promote Takaful amongst the masses, encompassing education and awareness, and present an image that is consistent with ideological values.
  • Adhere to best ethical practices in all aspects of our operations, while abiding by the Shariah and the law of the land.
  • Empower employees by inspiring, guiding, enabling, and supporting them.
  • Ensure support to the community and the environment with excellence.
  • Ensure customer satisfaction by offering quality products and services driven by their needs.
  • Ensure optimum returns to the shareholders.
  • Doing things in a manner that in available resources cannot be done better.
Awards & recognition

Pak-Qatar Family & General Takaful was awarded Best Takaful Company in Pakistan at Cairo Summit in 2013.

The International Takaful Awards are the only recognition of excellence and achievement for the Takaful industry.

This year’s Awards were rewarded to the most progressive companies in 12 countries where Takaful has been most vibrant.

The awards were presented for excellence to those service providers that support the industry and assist its growth.

Shari’ah Advisory Board

Justice (Red) Muhammad Taqi Usmani is a renowned figure in the field of Shariah, particularly in Islamic Finance and economics. He has served as a Judge in the Shariah Appellate Bench, Supreme Court of Pakistan from 1982 to 2002. He is also the Editor of the magazine ‘Albalagh’ (a weekly publication of Jamia Darul Uloom, Karachi) as well as an active contributor of articles in leading Pakistani newspapers.

Justice (Retd) Muhammad Taqi Usmani, who was born in Pakistan, graduated from Punjab University, Pakistan in 1970. Further to that, he holds an LLB from Karachi University. Prior to these, he completed the ‘Takhassus’ course, which is a specialization course in Islamic ‘Fiqh’ and ‘Fatwa’ (Islamic Jurisprudence) from Jamia Darul Uloom Karachi.

In March 2004, His Highness Sheikh Mohammad Bin Rashid Al Maktoum (Dubai Crown Prince and UAE Minister of Defense) presented a special award to Justice (Retd) Muhammad Taqi Usmani in recognition of his lifetime service and achievement in Islamic Finance at the occasion of the International Islamic Finance Forum, Dubai, which is one of the biggest events in the Islamic Finance Industry.

Other positions currently held:

  • Permanent member of the International Islamic Fiqh Academy, Jeddah, Saudi Arabia.
  • Vice President, Darul Uloom Karachi, Pakistan.
  • Chairman, Shariah Council AAOIFI, Bahrain.
  • Member and former chairman, Islamic Fiqh Academy of Rabita-al-Alam-e-Islami, Makkah, Saudi Arabia.
  • Member, European Council of Fatwa and Research, Dublin, Ireland.
  • Chairman, Center for Islamic Economics Pakistan.
  • Chairman, Shariah Advisory Board, Pak-Qatar Family Takaful Limited, Pakistan.
  • Chairman, Shariah Board, Meezan Bank Limited, Pakistan.
  • Chairman, Shariah Board Dow Jones Islamic Market Index, New York, USA.
  • Chairman, Shariah Board, Bahrain Monetary Agency, Bahrain.
  • Chairman, Shariah Board, Amana Investments Limited, Sri Lanka.
  • Chairman, Shariah Board Abu Dhabi Islamic Bank, UAE.
  • Chairman, Shariah Board Islamic House of Britain plc, UK.
  • Member, Shariah Board, First Islamic Investment Bank, Bahrain.
  • Member Shariah Board, Islamic Corporation for Development of the Private Sector, (an organ of IDB), Jeddah, Saudi Arabia.
  • Chairman, Shariah Board Islamic Financial Services Board.
  • Chairman, Shariah Board International Islamic Rating Agency.
  • Member Shariah Board, Guidance Financial Group, USA.

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