Karachi: Pak-Qatar General Takaful Limited (PQGTL or the Company), a leading provider of Shariah-compliant general Takaful solutions in Pakistan has announced its financial results for the year ended December 31, 2023. PQGTL is part of Pak-Qatar Group, Pakistan’s premier and pioneer Islamic financial conglomerate. PQGTL is rated ‘A+’ (Single A Plus) having a Stable Outlook by Pakistan Credit Rating Agency (PACRA) and ‘A’ (Single A) having a Stable Outlook by VIS Credit Rating Company Limited.
The Board meeting presided over by Sheikh Ali bin Abdullah bin Thani al-Thani, the Chairman of Pak-Qatar Group, discussed the financial results of the company for 2023 and its plans for 2024, in the meeting held in Doha, Qatar. It was attended by the Directors – M/s. Said Gul, Abdul Basit Ahmad al-Shaibei, Ali Ibrahim Al Abdul Ghani, Zahid Hussain Awan and Muhammad Kamran Saleem. Saqib Zeeshan, Deputy CEO of the Company also attended the meeting
Overview of Financial Performance:
During 2023, Pak-Qatar General Takaful Limited achieved a turnover of PKR 1.26 Billion. Shareholders Fund posted a net profit after tax of PKR 101.2 million with an EPS of PKR 1.99 per share despite all challenges; while the Participants’ Takaful Fund (Waqf Fund) generated an annual surplus of PKR 40.57 million. The Company has increased its net equity & break-up value per share through impressive growth in its profits.