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Supplements: Islamic concept of Insurance - Future Potential of Takaful


Humanity is not immortal and is prone to accidents and disasters. It is subjected to the Divine law that the characteristics of a mortal being are also mortal, therefore, humanity is naturally threatened by a variety of dangers. These dangers may exist in the, present or future, and humans are bound to face all kinds of dangers. The nature of these dangers and threats may also vary from time to time.

State Life Insurance Corporation was incorporated on November 1, 1972 under Life Insurance Nationalisation Order, 1972. It is owned by the Government of Pakistan and is primarily involved in Life, Health and Pensions business.
Asia Insurance Company Limited is one of the fastest growing Insurance Companies of Pakistan. The company offers various solutions which are inclusive, economical and tailored for its valued clients. The company's aim is to provide a steady hand, helping people back on to their feet while prudently managing risks.
It was a historic day on May 15, 2015 for EFU General Insurance Limited when it commenced its Takaful Operations. Through Window Takaful Operations EFU General Insurance Ltd is now able to offer Takaful Products to its customers. We are catering to all needs of our Takaful Participants under the guidance of renowned Shariah Advisor who will be guiding us in every respect.
It is a truly great blessing for us that to be followers of the perfect religion to have a complete set of guidelines and procedures in the form of the Shari'ah. Our world faces rapid social and economic changes. Life has become fast-paced and mechanical and business processes are innovative. Challenges lie ahead. However, our religion offers solutions to these new challenges if we simply follow its tenets and principles.
Our Vision: Asia Insurance Company Ltd aims to be an ideal Insurance Company with a large equity base; To provide more opportunities and options for utilisation of funds and to increase profitability through economies of scale, better resource mobilisation and reduction in operational cost; To achieve this while providing better service to our clients and stakeholders.
EFU General, now in its 83rd year, is known as a bedrock of financial strength and the most trusted business concern with a reputation for innovation. A pioneer in Pakistan's insurance industry, it was founded in 1932, as the first Muslim insurance company, conceived as a part of Muslim renaissance in sub-continent.


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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln