Magazine article Economic Review

Takaful Pakistan Limited

Magazine article Economic Review

Takaful Pakistan Limited

Article excerpt

Takaful Pakistan Limited was incorporated in June, 2006 with its registered head-office in Karachi. With authorised and paid-up capital of Rs.300 million, the Company is sponsored by reputable financial institutions both local and foreign. The Company commenced its operations following issuance of license by the S.E.C.P. on Friday 9th March, 2007.

Managed by a team of qualified and experienced professionals and supervised by a distinguished Shariah Advisory Board of international repute, Takaful Pakistan Limited has the capacity to underwrite risks in all avenues of General Insurance namely, Property (Fire & Engineering), Marine, Motor, Liabilities, etc. In addition, the Company has the expertise and arrangements with overseas ReTakaful operators enabling it to offer comprehensive coverage for large infra-structure projects, specialized risks and umbrella/blanket covers specifically tailored for Islamic banking operations as well as for large corporate groups.

Takaful Pakistan Limited aims to lead the contemporary insurance/Takaful market ensuring that its operations are riba-free and are in line with the cardinal Islamic principles. Takaful Pakistan Limited also offers a unique option of surplus sharing to its clients whereby any balance remaining in its Waqf-Fund shall be returned to the Participants in proportion to their original contributed amount.

Sponsors: Takaful Pakistan is sponsored by the following institutions:

* House Building Finance Corporation--The largest house financing organisation in the public sector. …

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