Pakistan Kuwait Investment Company (Private) Limited (Pak-Kuwait) was established in the year 1979 with an initial paid-up capital of Rs 250 million. It is a leading Financial Institution engaged in investment and development financing activities.
Pak- Kuwait is the highest capitalised DFI operating in the country with net worth approximately of Rs 13 billion as of Dec 31, 2006. Total dividend pay out by the company since inception amounts to Rs 9.232 billion in the form stock and cash dividend.
With the declaration of stock dividend of Rs 4.0 billion in the year 2005 the paid up capital of the company has enhanced to Rs 6 billion. Pak-Kuwait became the first DFI and amongst the first few in the financial sector to meet the State Bank of Pakistan's (Central Bank) requirement on minimum paid up capital in 2006 instead of 2009 ie three years in advance.
Pak Kuwait is maintaining the highest credit rating of "AAA" long-term rating and A1+ rating for short-term by JCR-VIS for 7th consecutive and from PACRA for the 4th consecutive year in 2006. In addition to this, company has also achieved a Corporate Governance rating of "CGR-9" in 2004 & 2005 on rating scale of 1-10 (1 is minimum and 10 is maximum). In order to achieve performance par excellence in operations of the company, it has secured ISO 9001:2000 Certification in 2003 and since then company is successfully maintaining the same.
THE COMPANY OPERATES WITH FOUR DIFFERENT BUT INTERLINKED REVENUE GENERATING FUNCTIONS AND THESE ARE:
-- Corporate Finance
-- Capital Markets
-- Treasury and
-- Investment Banking
-- Entities Sponsored/Co-sponsored by PKIC
OVER THE YEARS COMPANY HAS SPONSORED ENTITIES AND THESE ARE:
-- Meezan Bank Limited
First Islamic Commercial Bank in Pakistan established in 2001. In a short span of time, Meezan Bank is now recognised as a foremost Islamic reputable bank with over 60 branches nation-wide through out the country.
-- Al-Meezan Investment Management Company Ltd
Established in the year 1995, an asset management company, which has floated three mutual funds, named: Al-Meezan Mutual Fund, Meezan Islamic Fund and Meezan Balance Fund. Total size of the funds are approximately Rs 8.0 billion.
-- Pak-Kuwait Takaful Company Limited (PKTCL)
First Islamic Insurance Company with sponsors from Srilanka, Malaysia, Kuwait and Saudi Arabia, company has commenced its operations in year 2005
-- First Choice Securities Ltd:
Fully owned subsidiary. A brokerage company which will commence business operations shortly
-- Plexus (Private) Limited
An Information Technology Company with strong IT expertise, established in the year 2001.
-- Corporate Social Responsibility
In discharge of its corporate social responsibility Pak Kuwait has built a beautiful Visual Park near FTC fly over at Shahra-e Faisal Karachi. This park is a gift for the people of Karachi and is a contribution of Pak Kuwait towards beautification of the city.
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