Pak-Qatar Family Takaful (PQFTL) has recorded 120 percent growth in its Takaful business in year 2010 which grew to Rs 1.04 billion as compared to previous year's Rs 466 million. According to a press release issued here on Monday, the PQFTL recorded 66 percent growth in its branch network, which increased to 44 branches in 21 cities across the country.
P. Ahmed, Director and Founding CEO of PQFTL said that the company's performance is evident of the need for Shariah compliant financial solutions, for individuals as well as for corporate. He said PQFTL was the first Takaful company in Pakistan to declare a surplus of 15 percent for its individual customers for the financial year ending 2009.
The company has registered tremendous growth despite economic recession, which speaks highly about the acceptance of Takaful by the masses. PQFTL, sponsored by some of the leading financial institutions from the State of Qatar, is part of Pak-Qatar Takaful Group, which offers innovative and need-based Takaful solutions to individuals and corporations. The company began its operations in 2007.-PR