PQAMCL announces approval of Shariah Compliant Collective Investment Schemes

KARACHI: The Pak-Qatar Asset Management Company Limited (PQAMCL) has announced that the Security and Exchange Commission of Pakistan (SECP) has accorded approval for launch of its Shariah Compliant Collective Investment Schemes (mutual funds). The PQAMCL is going for IPO of its funds.

The PQAMCL obtained its licence to operate as an asset management company and investment adviser in December of 2021.

The company has obtained approval to launch three Shariah Compliant funds along with six plans catering to the needs of masses. The PQAMCL, being part of a group having strong Takaful arms, plans to augment Takaful benefits with its investment plans.

At the launch ceremony, the CEO of PQAMCL, Farhan Shaukat, said: “We are pleased to announce obtaining approval to offer a wide variety of Shariah Compliant Collective Investment Schemes with a flavour of Takaful, which are unique in the existing market and which allow our customers to diversify their investment portfolio. We are also the second company that is exclusively offering the Shariah Compliant Collective Investment Schemes in Pakistan.”

“We aim to encourage our customers to invest in our funds that are designed specifically for their investment needs. We are looking forward to providing the best investment solutions in the country to our customers,” he said.

The PQAMCL has a vision to “improve people’s lifestyles through the right investments with Riba-free returns”. “With our expertise, we aim to offer our valued customers the best-in-class technology-based, advanced investment solutions, mutual funds, and investment advisory services,” he added.

The Pak-Qatar Asset Management Company Limited is a part of the Pak-Qatar Group, which comprises the Pak-Qatar Family Takaful Limited (PQFTL), Pak-Qatar General Takaful Limited (PQGTL), and Pak-Qatar Investment Limited (PQIL). The group has been operating in Pakistan since 2007 and has a rich and diverse experience of more than 15 years in providing protection and investment solutions through Takaful.

The PQAMCL is registered with and supervised by the SECP. Qualified Shariah scholars certify all products and operations when it comes to Shariah compliance.

Copyright Business Recorder, 2022