Karachi, Pak-Qatar Family Takaful Limited (PQFTL), a leading provider of Shariah-compliant family Takaful solutions in Pakistan, has announced its financial results for the year ended December 31, 2023. The company, which is part of Pakistan's premier Islamic financial conglomerate, Pak-Qatar Group, reported significant achievements despite various challenges throughout the year.

According to Pak-Qatar Family Takaful, the financial results were discussed during a board meeting chaired by Sheikh Ali bin Abdullah bin Thani al-Thani, the Chairman of Pak-Qatar Group, in Doha, Qatar. The meeting was attended by directors Said Gul, Abdul Basit Ahmad al-Shaibei, Ali Ibrahim Al Abdul Ghani, Zahid Hussain Awan, and Muhammad Kamran Saleem.

For the year 2023, PQFTL achieved a turnover of PKR 16.30 billion. The shareholders’ fund posted a net profit after tax of PKR 156.30 million, translating to earnings per share (EPS) of PKR 1.20. Additionally, the Participants’ Takaful Fund (Waqf Fund) generated a surplus before distribution of PKR 37.5 million. The company also noted a significant growth in its balance sheet through expanded investments and financing portfolio.

The company, which holds an ‘A++’ rating with a Stable Outlook from VIS Credit Rating Company Limited and Pakistan Credit Rating Agency (PACRA), continues to strengthen its financial position while adhering to its commitment to providing Shariah-compliant financial solutions.