Wednesday, November 10, 2010
PQFTL Board Decides to issue 33% right shares!
The Board of Directors of Pak-Qatar Family Takaful has decided to further invest in the company by issuing right shares upto 33% of the base capital. This was decided in the Board of Directors meeting of Pak-Qatar Family Takaful held in Doha recently.
The meeting was chaired by H.E. Shaikh Ali bin Abdullah Al-Thani chairman board of director and was also attend by all the members.
CEO, PQFTL Mr. P. Ahmed apprised the Board on the state-of-affairs of the Company and presented the progress report; Shaikh Thani and other members of the board expressed their satisfaction and appreciated the performance so far despite the difficult socio-economic conditions of the country.
Shaikh Ali bin Abdullah Al-Thani assured his full support to PQFTL. He 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, who are leading financial institutions from the state of Qatar including QNB, Masraf Al-Rayan, QIIB, QIB, QIIC, The Amwal group and German base FWU group, showed their long term commitment to the country and pledged to provide assistance to support the cause of Takaful in Pakistan.
Pak-Qatar Family Takaful Limited, the pioneers of family Takaful (Islamic life insurance) in Pakistan, started its operations in October 2007 and achieved rapid growth in a span of 3 years.