Pak-Qatar General Takaful Limited and NBFI & Modaraba Association of Pakistan join hands for the promotion of Takaful Products
Pak-Qatar General Takaful Limited and NBFI & Modaraba Association of Pakistan sign MoU for promotion of Takaful Products
Mian Muhammad Adrees, President of the Federation of Pakistan Chambers of Commerce & Industry appreciated the joint collaboration between Pak-Qatar General Takaful Limited and NBFI & Modaraba Association of Pakistan while speaking at the MoU signing ceremony held on 30th September, 2015 at a local hotel in Karachi. He said that it is a significant event in the history of both institutions and is a milestone of collaboration for promotion of Islamic financial system.
The ceremony was jointly arranged by NBFI & Modaraba Association of Pakistan and Pak-Qatar General Takaful Limited for providing Takaful coverage to the members of the Association on the basis of Islamic modes. The MoU was signed by Muhammad Shoaib Ibrahim, Chairman, NBFI & Modaraba Association of Pakistan and Mr. Javed Muslim, Chief Executive Officer, Pak-Qatar General Takaful Limited.
While speaking at the occasion, Mr. Javed Muslim, CEO PQGTL stated that the signing of this MoU will develop mutually beneficial relationship between Takaful Companies and Members of NBFI & Modaraba Association of Pakistan. Whereas, Muhammad Shoaib Ibrahim (Chairman NBFI & Modaraba Association of Pakistan) highlighted the performance of the Modaraba Sector and was hopeful that Takaful products in the financial sector would grow. He also appreciated the efforts of the Chief Guest Mian Muhammad Adrees towards the growth of Islamic finance in the country.
The Chairman of Standing Committee of Islamic Banking and Takaful at FPCCI and EVP of Pak-Qatar General Takaful Ltd., Mr. Mehmood Arshad appreciated the initiative of the Association for converting its risk coverage arrangements from conventional Insurance to Takaful. He also said that such measures will help the penetration of Islamic Financial System among the business community of Pakistan.
The ceremony was largely attended by senior officials of NBFI & Modaraba Sectors, Pak-Qatar General Takaful Limited, Takaful Pakistan Limited and Pak Kuwait Takaful Limited.