Karachi: Pak-Qatar Family Takaful Limited (PQFTL) announced the election of their Chief Executive Officer, Mr. Waqas Ahmad, as a member of the Executive Committee of the Insurance Association of Pakistan (IAP) for the 2024-26 term.

According to Pak-Qatar Family Takaful, Mr. Ahmad’s new role marks a significant milestone for the Takaful industry in Pakistan by providing a platform for increased representation and opportunities for growth within the broader insurance sector. His election is a reflection of over three decades of experience in the Takaful and insurance industry, highlighting his extensive expertise.

Mr. Ahmad commented on his election, expressing his commitment to advancing the development and promotion of Shariah-compliant Takaful solutions in Pakistan. His areas of influence include life insurance/Takaful underwriting, product development, strategic partnerships, and digital transformation, positioning him to inject valuable insights into the IAP.

This appointment aims to bolster the Takaful landscape in Pakistan and enhance the adoption of innovative Shariah-compliant financial solutions. It also aligns with PQFTL’s vision of leveraging technology to drive innovation and deliver value to stakeholders in the Islamic financial sector.

The Insurance Association of Pakistan, founded in 1948, functions as a key body representing the nation’s insurance and Takaful industries. It is licensed by the Ministry of Commerce and registered with the Securities and Exchange Commission of Pakistan as a section 42 trade association. IAP also collaborates with the Federation of Pakistan Chambers of Commerce and Industry to advocate for the interests and welfare of insurance and Takaful companies in Pakistan.