Tuesday, November 23, 2010
PQFTL and NAFA Funds Sign Agreement
Pak-Qatar Family Takaful Limited (PQFTL) and NBP Fullerton Asset Management Ltd. (formerly National Fullerton Asset Management Ltd.) signed an agreement for Family (Life) Takaful coverage to the investors of NAFA Riba-free Savings Plans.
MoU was signed by P. Ahmed , Director and CEO PQFTL and Dr. Amjad Waheed, CEO, NAFA Funds.
According to the agreement and subject to the terms of the Group Family Takaful Scheme issued by PQFTL, NAFA Riba-free Savings Plan’s investors will be provided free Family (life) Takaful coverage equal to the amount of investment and subject to a maximum of PKR 2,000,000 per covered person.
Takaful is a Halal risk mitigation tool which serves as an alternative to conventional insurance."