AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: In a significant development aimed at enhancing financial security for retirees, Lucky Investments Limited has announced a strategic partnership with 5th Pillar Family Takaful. The collaboration will provide free Takaful coverage to all participants of the Lucky Islamic Pension Fund (LIPF), ensuring Shariah-compliant protection at no additional cost.
This landmark agreement, unveiled at a formal signing ceremony attended by senior management from both entities, underscores a shared commitment to financial inclusion and ethical financial solutions in Pakistan. The initiative is set to bolster the value of the LIPF, a recently launched fund designed to offer a pathway to dignified retirement for its participants.
Mohammad Shoaib, CEO of Lucky Investments Limited, highlighted the significance of the partnership as a step towards safeguarding both the investments and futures of LIPF participants and their families. “By providing free-of-cost Takaful coverage, we are fully upholding our commitment to connecting capital with conscience and ethical stewardship,” Mr. Shoaib stated.
Nasar us Samad Qureshi, CEO of 5th Pillar Family Takaful, expressed pride in the collaboration, noting that it aligns with their mission to broaden the reach of faith-based financial protection throughout Pakistan. He emphasized the importance of securing the future of LIPF participants through this initiative, which is fully compliant with Shariah principles.
The Lucky Islamic Pension Fund offers a structured savings solution with four investment sub-funds—Equity, Debt, Money Market, and Gold—each managed under the guidance of a Shariah Advisor. The fund aims to meet the growing need for retirement savings options, particularly for those in private and informal sectors, with the added benefits of tax incentives and faith-based investment integrity.