IL-DSF portfolio for 2023: PQFTL announces distribution of 28pc surplus among members

KARACHI: Pak-Qatar Family Takaful Limited (PQFTL), a part of Pak-Qatar Group, Pakistan’s premier and pioneer Islamic financial services group, has announced the distribution of 28% surplus among its members of Individual Family Takaful (IL-DSF) portfolio for the year 2023.

This decision was approved by the Appointed Actuary and Shariah Advisory Board, reflecting the strong financial performance and commitment to participants’ benefits of PQFTL.

The 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”.

Furthermore, the actual distribution of surplus is carried out only to those Participants leaving the pool during the year 2024, by way of Permanent Withdrawal, Death or Maturity of the memberships.

Distribution of Surplus from the Waqf / Participants’ Takaful Fund (Risk) pool is an important principle of Takaful, setting it apart from conventional insurance. This Surplus distribution signifies PQFTL’s dedication to providing its participants with exceptional value and financial security.

The company’s focus on prudent financial management and a strong risk-sharing framework has enabled it to generate significant surplus for its participants.

Copyright Business Recorder, 2024