RECORDER REPORT

KARACHI: Pak Qatar Family Takaful Limited (PQFTL) on Friday announced distribution of 27.22 percent surplus among its Individual Family Takaful participants (Direct Business) for the year 2014.

This surplus reflects the institution’s competitive financial performance during the year 2014.

A single-rate method has been adopted to calculate the surplus, and will be distributed amongst the participants through a defined manner in relation to the ‘Cumulative Net Contribution’ received in the Individual Family Takaful Participant Fund (IPTPF) by each participant.

Furthermore, the actual surplus would only be distributed among those participants, who would be leaving the pool during the year 2015, and would be making permanent withdrawals, in case of maturity of their membership or their death.

After this announcement of surplus declaration, PQFTL would now become the only Family Takaful Operator in the country, which has been consistently declaring distributable Surplus for Individual Family Takaful for the past seven years.

It is important to note that in the year 2008, PQFTL declared a surplus of 10 percent, which has seen a significant growth to reach 27.22 percent in the year 2014.