, leading provider of Shariah-compliant family Takaful solutions.){kind=link}
Karachi, Pakistan – May 08, 2024 – Pak-Qatar Family Takaful Limited (PQFTL or the Company), leading provider of Shariah-compliant family Takaful solutions in Pakistan has announced its financial results for the year ended December 31, 2023. PQFTL is part of Pak-Qatar Group, Pakistan premier and pioneer Islamic financial conglomerate. PQFTL is rated ‘A++’ (having a Stable Outlook) by VIS Credit Rating Company Limited and Pakistan Credit Rating Agency (PACRA).
The Board meeting, presided over by Sheikh Ali bin Abdullah bin Thani al-Thani, the Chairman of Pak-Qatar Group, discussed the financial results of the company for 2023 and its future plans for 2024, in the meeting held in Doha, Qatar. It was attended by the Directors – M/s. Said Gul, Abdul Basit Ahmad al-Shaibei, Ali Ibrahim Al Abdul Ghani, Zahid Hussain Awan and Muhammad Kamran Saleem.
Overview of Financial Performance:
During 2023, Pak-Qatar Family Takaful Limited achieved turnover of PKR 16.30 Billion. Shareholders Fund posted a net profit after tax of PKR 156.30 Million with an EPS of PKR 1.20 per share despite all challenges; while the Participants’ Takaful Fund (Waqf Fund) generated a surplus before distribution of PKR 37.5 Million. The Company has increased its balance sheet footing through impressive growth in its investments and financing portfolio.