Pak-Qatar Takaful has launched a corporate documentary video which outlines the evolution of Takaful business all over the world. The documentary narrates and aesthetically visualises the inception of Takaful many centuries ago, and how it has evolved ever since. The documentary stated that Takaful gained recognition in the modern day financial markets, when the first Takaful Company was launched in Sudan in 1979.
The documentary then proceeds to define the various services offered by the Pak-Qatar Takaful group and also explains the composition of its Shariah Board, presided by leading Islamic scholar Mufti Taqi Usmani. By launching the corporate documentary, Head of Marketing & Corporate Communications of PQFTL - Syed Adnan Hasan on Tuesday, said company had visually elaborated on the importance and advantages of the Takaful concept, over the traditional insurance services.
"We have also provided a detailed explanation of the services offered by Pak-Qatar Takaful group," he added. He said "documentary is aimed at showcasing accomplishments and strengthening our position in the Takaful segment." Being the pioneers of Takaful in Pakistan, he said PQFTL offered Individual, Corporate and Banca products, including Group Life and Health protection, to cover the consumers' basic protection needs like Child Education Saving Plan, Share & Care Plan, Investment Plans, etc. Its award-winning, diverse, Shariah-compliant products are absolutely competitive, more rewarding and flexible, compared to the conventional Insurance products.
He said concept of Takaful (Islamic Insurance) is growing steadily in all regions of the world, including Pakistan. Currently, there are some major international players operating in the global market, a few of those have already entered into Pakistan with this emerging business model. This is the beginning of a phenomenal change, which could finally make Shariah-compliant and affordable insurance available to over 180 million people in country.
Takaful is an alternate to conventional insurance and is based on shared social responsibility, solidarity and co-operation in the case of losses occurred to a member. A group of Takaful participants donates collectively to jointly indemnify the loss.