Pak-Qatar Family Takaful to issue rights shares

October 28, 2010 - 12:38:14 am

DOHA: The Board of Directors of Pak-Qatar Family Takaful (PQFTL) has decided to further invest in the company by issuing right shares up to 33 percent of the base capital. This was decided at the Board of Directors meeting of Pak-Qatar Family Takaful held in Doha recently.

The meeting was chaired by Sheikh Ali bin Abdullah Al Thani, Chairman and was attended by all the members.

PQFTL CEO, P Ahmed appraised the board on the company’s position and presented the progress report. Sheikh Ali and other members of the board expressed their appreciation for the company’s performance despite the difficult socio-economic conditions of the country.

Sheikh Ali said that PQFTL has the institutional capacity to cater to the protection and long-term investment needs of the people of Pakistan. The sponsors of Pak-Qatar, leading financial institutions from the State of Qatar including QNB, Masraf Al Rayan, QIIB, QIB, QIIC, The Amwal group and German based FWU group, showed their long term commitment to the country and pledged to provide assistance to support the cause of Takaful in Pakistan.

PQFTL started operations in October 2007 and achieved rapid growth in a span of three years.

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