AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
KARACHI: Pak-Qatar Family Takaful Limited (PQFTL) introduced a pioneering lifetime guaranteed pension plan named the “Lifetime Kafalat Plan”, marking a significant milestone in Pakistan’s financial services sector. The launch event, held in Karachi, was attended by key figures from the Securities and Exchange Commission of Pakistan (SECP), trade and business associations, industry leaders, and Islamic scholars.
According to a statement by Pak-Qatar Family Takaful, this new offering is the first initiative in Pakistan to provide a lifetime pension with a guaranteed income tailored to individual needs. The plan utilizes advanced algorithms to determine monthly contributions, thus making pension income more accessible to Pakistanis. The launch underscores PQFTL’s role as an industry pioneer and aims to empower citizens with robust financial planning tools for retirement.
At the ceremony, SECP Chairman Akif Saeed, through a video message, commended Pak-Qatar Family Takaful for their innovative approach. Mr. Mujtaba Ahmed Lodhi, SECP’s Commissioner Insurance, emphasized the growing demand for structured retirement solutions and highlighted the SECP’s commitment to supporting financial innovation.
Waqas Ahmad, CEO of Pak-Qatar Family Takaful Limited, expressed his enthusiasm, stating that the Lifetime Kafalat Plan offers a groundbreaking approach to retirement planning with a guaranteed lifetime pension. He noted that this initiative aligns with the company’s vision to deliver customer-centric financial solutions.
The event also featured remarks from Mufti Hassaan Kaleem, Chairman of the Shariah Board, who discussed the significance of Islamic financial services and key product features. Zahid Awan, a founder and board member of Pak-Qatar Group, expressed gratitude to the SECP for their support. The launch was attended by other notable figures including Said Gul and Kamran Saleem, alongside the senior management of Pak-Qatar Group.