RECORDER REPORT

KARACHI: Pak-Qatar Takaful group, which comprises of Pak-Qatar Family Takaful Limited and Pak-Qatar General Takaful Limited has announced Rs 120 million net profit after tax for the year ended December 31, 2018 at the group’s Board of Directors meeting.

Pak-Qatar Takaful group achieved an aggregate turnover of around rupees 8.5 billion. It posted a net profit after tax amounting Rs 120 million during the year ended 31-December-2018. Participant Takaful Fund generated net consolidated surplus of Rs 143 million.

Pak-Qatar Family Takaful Limited (PQFTL) has declared 5 percent cash dividend for its shareholders. Earlier, for the years 2016 and 2017, PQFTL had declared 5pc stock dividend (bonus shares) each year for its shareholders. PQGTL has also declared 5pc cash dividend for its shareholders for the first time

The meeting, presided over by Sheikh Ali Abdullah Al-Thani, chairman of Pak-Qatar Takaful group, discussed the financial results of the company for 2018 and its future plans. Other members of the board (BoD) who attended the meeting included Abdul Basit Ahmad Al-Shaibei, Ali Ibrahim Al-Abdul Ghani, Said Gul, Owais Ansari and Zahid Hussein Awan.

Sheikh Ali praised the group’s performance during the year 2018 and hoped 2019 would be another excellent year for the company to achieve new heights in terms of revenues and profitability and that it would be able to further improve its services to international standards.