NEWS aRCHIVE



Pak-Qatar General and Family Takaful signs MoU with DIBP

April 30, 2008 Pak-Qatar General Takaful Limited (PQGTL) and Pak-Qatar Family Takaful Ltd (PQFTL) have signed an agreement with Dubai Islamic Bank Pakistan (DIBP) to offer a wide range of insurance cover for their clients.


As part of the agreement Pak-Qatar General Takaful would provide Takaful coverage to the assets of the Car Ijarah and Housing Finance lines at DIBP while Family Takaful would provide Life and Health Takaful cover to DIB's employees. The agreements were signed by the representatives of Pak-Qatar General and Family Takaful and Dubai Islamic Bank Pakistan. PQGTL would provide comprehensive Takaful for DIBP's Car Ijarah assets. This cover would include cover for riots, acts of terrorism and natural disasters. Cover for DIBP's home finance assets will include natural disasters, fire and allied perils. PQFTL would provide DIBP's employees with Life, Health and staff loan coverage.

Pak-Qatar General Takaful CEO M Vaqaruddin said that in order to provide the best possible service to the participants, the Pak-Qatar Takaful group has implemented a state of the art IT system from Malaysia. He said that the agreement with a World Class bank like DIBP is a sign of our better services that are backed by experienced management and a powerful system. Pak-Qatar Family Takaful CEO Pervaiz Ahmed said that Pak-Qatar Family Takaful is committed to working with professional organizations so that they can meet the financial protection needs of their valuable employees.

Executive Director Atlas Asset Management Limited Mr. Ali H. Shirazi said that Atlas Pension Islamic Fund is the first Shariah Compliant Pension Fund in Pakistan which provides family Takaful coverage for its participants.  He said that Atlas Asset Management Limited is always looking for new and innovative ways to offering 'above and beyond' products and services for to its participants.  By teaming up with Pak-Qatar Family Takaful they are able to provide Shariah compliant pension fund participants with the same level of product and service which is being given to those customers on the conventional side.

CEO Pak-Qatar Family Takaful Mr. Pervaiz Ahmed said that Pak-Qatar Family Takaful is always looking for ways to provide value added products to the people of Pakistan.  By working with AAML we are able to reach out to many people who would otherwise not have the benefit of a customer centric and Shariah compliant risk mitigation tool.

The Atlas Pension Islamic Fund (APIF) serves as a Shariah Compliant primary savings vehicle for retirement savings for individuals and is created as a Pension Fund under the Voluntary Pension System Rules, 2005.

Pak-Qatar Family Takaful is Pakistan's first Family Takaful operator.  Having set its vision to 'provide financial protection through Takaful, to everyone' it is moving in this direction by providing need based, appropriately priced and immaculately serviced products.