FLASHNEWS:

Pak-Qatar General Takaful Limited Posts Strong 2023 Financial Results

Karachi, Pak-Qatar General Takaful Limited reported a robust financial performance for the fiscal year ending December 31, 2023, highlighting significant growth in profits and a positive financial outlook. The firm, a key player in the provision of Shariah-compliant Takaful solutions in Pakistan, declared a turnover of PKR 1.26 billion and a net profit after tax of PKR 101.2 million.

According to Pak-Qatar Family Takaful, the Board meeting, led by Sheikh Ali bin Abdullah bin Thani al-Thani, chairman of the Pak-Qatar Group, was held in Doha, Qatar, where the 2023 financial results and strategic plans for 2024 were discussed. The meeting saw the attendance of notable directors including Said Gul, Abdul Basit Ahmad al-Shaibei, Ali Ibrahim Al Abdul Ghani, Zahid Hussain Awan, and Muhammad Kamran Saleem, with Saqib Zeeshan, Deputy CEO of the company, also present.

The company's financial success included a notable increase in the Shareholders Fund with an earnings per share (EPS) of PKR 1.99. The Participants’ Takaful Fund, also known as the Waqf Fund, reported an annual surplus of PKR 40.57 million. This financial growth contributed to an increase in net equity and the break-up value per share.

Pak-Qatar General Takaful Limited has maintained strong credit ratings, affirmed by the Pakistan Credit Rating Agency (PACRA) and VIS Credit Rating Company Limited, with both institutions assigning a stable outlook.