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Karachi: The Pakistan Credit Rating Agency Limited (PACRA) has affirmed the stability rating of the Pak Qatar Daily Dividend Plan, a low-risk investment solution under the Pak Qatar Islamic Cash Fund. This Shariah-compliant plan aims to provide daily income distribution while preserving capital through investments in Islamic money market instruments.
The Plan’s assets, as of March 2025, stand at PKR 1.74 billion, marking its significance in the Islamic liquidity market in Pakistan. Its asset allocation strategy includes 42% of net assets in bank deposits, 27% in Development Finance Institutions (DFIs), 17% in Government Sukuks, and 11% in Corporate Sukuks. This allocation reflects a balanced approach to liquidity management.
The credit quality of the Plan remains strong, with 53% of assets in AAA rated instruments and 36% in AA+ rated avenues. This alignment with high-quality, investment-grade standards supports the Plan’s low-risk mandate.
The duration and Weighted Average Maturity (WAM) of the Plan are both maintained at 39 days, which minimizes sensitivity to interest rate changes. However, PACRA notes that any significant changes in investment policy or rating criteria could impact the assigned rating.