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, a part of Pak-Qatar Group, Pakistan’s premier and pioneer Islamic financial conglomerate, maintains its strong position with a rating of ‘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 company’s financial results for 2023 and its plans for 2024 in the meeting held in Doha, Qatar. The Directors attended it. Said Gul, Abdul Basit Ahmad al-Shaibei, Ali Ibrahim Al Abdul Ghani, Zahid Hussain Awan and Muhammad Kamran Saleem. Saqib Zeeshan, the company’s deputy CEO, also participated in the meeting.

Overview of Financial Performance:

Despite the challenges faced, Pak-Qatar General Takaful Limited demonstrated its resilience, achieving a turnover of PKR 1.26 Billion in 2023. Shareholders Fund posted a net profit after tax of PKR 101.2 million with an EPS of PKR 1.99 per share, while the Participants’ Takaful Fund (Waqf Fund) generated an annual surplus of PKR 40.57 million. The Company’s impressive growth in profits has led to an increase in its net equity & break-up value per share.