Pak-Qatar Family Takaful Limited (PQFTL), Pakistan’s Pioneer and leading Family Takaful Company and Meezan Bank, Pakistan’s leading Islamic bank, have announced a strategic partnership to revolutionise Pakistan’s financial landscape. This collaboration was formalized through a Memorandum of Understanding (MoU) signed by Mr. Waqas Ahmad – Chief Executive Officer, Pak-Qatar Family Takaful Limited, and Mr. Muhammad Abdullah Ahmed – Group Head of Transaction & International Banking at Meezan Bank, in the presence of senior management teams from both organizations.

Through this partnership, PQFTL has introduced an innovative instant withdrawal service for its clients through integration with Meezan Bank’s network, setting a new benchmark in Shariah-compliant financial services. This service will enable PQFTL’s Mahana Bachat and Takaful flexi plan clients only to receive funds in their accounts within minutes. This is a first-of-a-kind service offered by any Takaful Company in Pakistan.

Commenting on this occasion, Mr. Waqas Ahmad – Chief Executive Officer of Pak-Qatar Family Takaful Limited, said, “We are delighted to offer this innovative instant withdrawal service. Our strategic approach enhances our end-to-end service delivery and aligns with our vision to provide innovative and customer-centric financial solutions. We believe this facility will benefit our participants by providing them unprecedented ease of access to their funds.”

Mr. Muhammad Abdullah Ahmed – Group Head Transaction & International Banking, Meezan Bank, expressed his views on the partnership, stating, “This collaboration with Pak-Qatar Family Takaful represents a significant advancement in Shariah-compliant financial solutions. Our eBiz+ Payment system is designed to provide seamless, real-time services, and we are pleased to support PQFTL in delivering this innovative feature to their clients.”