Karachi: The Pakistan Credit Rating Agency Limited (PACRA) has maintained the stability rating of the Pak Qatar Cash Plan under the Pak Qatar Islamic Cash Fund. The plan, characterized as a low-risk Shariah-compliant money market option, has demonstrated a significant increase in its Assets Under Management (AUM), reaching PKR 17,683 million by March 2026, up from PKR 10,179 million in December 2025.

According to PACRA, the Pak Qatar Cash Plan aims to generate competitive returns while ensuring the preservation of capital by investing in low-risk and highly liquid Shariah-compliant instruments. As of the end of March, the plan's assets were allocated with 47.7% in placements with banks and Development Finance Institutions (DFIs), 39.3% in bank deposits, 11.5% in short-term Sukuks, and the remainder in government Ijarah Sukuks and other investments. The credit quality of the plan's investments was primarily in AA+ rated avenues, accounting for 60.2% of the portfolio, followed by 21.4% in AA/A1 rated avenues and 16.8% in government securities or AAA rated avenues.

The plan showed a weighted average maturity of 20 days, indicating limited exposure to interest rate risk while maintaining sufficient liquidity to fulfill redemption requirements. The annualized return of the plan was recorded at 10.22% as of March 2026, surpassing its benchmark return of 9.28%. This performance reflects the effectiveness of the plan's disciplined investment strategy and prudent portfolio management.

PACRA noted that any material changes in the investment policy or compliance with rating criteria could impact the assigned ratings in the future.