Karachi: Pakistan premier and pioneer Islamic financial conglomerate, Pak -Qatar Group has announced its financial results for the year ended December 31, 2022, for its companies Pak-Qatar Family Takaful Limited (PQFTL) and Pak-Qatar General Takaful Limited (PQGTL).
The Board meetings, presided over by Sheikh Ali bin Abdullah bin Thani al-Thani, the Chairman of Pak-Qatar Takaful Group, discussed the financial results of the companies for the financial year 2022 and their future plans for the year 2023. It was attended by the Directors, including – Mr. Abdul Basit Ahmad al-Shaibei, Mr. Ali Ibrahim al Abdul Ghani, Mr. Said Gul, Mr. Muhammad Owais Ansari, Mr. Zahid Hussain Awan, Mr. Farrukh V. Junaidy and Mr. Muhammad Kamran Saleem.
Overview of Financial Performance:
During the year 2022, Pak-Qatar Takaful Group (the Group) achieved a consolidated aggregate turnover of PKR 11.44 Billion*. The Group’s Shareholders’ Fund posted a net consolidated profit after tax of PKR 207 Million; while, Participants’ Takaful Fund (Waqf Fund) generated the net consolidated surplus of PKR 151 Million for the year 2022. Despite severe economic and political turmoil, the Group had an *average consolidated growth of 9.6%*.
Pak-Qatar Family Takaful (PQFTL) posted a profit before tax of PKR 184 Million, with an EPS of PKR 1.14 despite all challenges.
The aggregated turnover was PKR 10.2 Billion with total assets under management were at PKR 33 Billion.
Pak-Qatar General Takaful (PQGTL) posted a profit before tax of PKR 80 Million with an EPS of PKR 1.14. The aggregated turnover was PKR 1.2 Billion with total assets’ base of PKR 2.4 Billion.