KARACHI: Pakistan’s insurance and Takaful sector has marked a significant milestone as the Securities and Exchange Commission of Pakistan has granted registration to First Digital Takaful Company Limited, a wholly owned subsidiary of MedIQ Private Limited, making it the country’s first Shariah-compliant, digital only general Takaful operator.
According to an official announcement shared by SECP, the approval enables First Digital Takaful to offer a fully end to end digital customer journey, covering on-boarding, contribution payments, digital certificate issuance, and claims management. The registration introduces a new operating model within Pakistan’s Takaful industry, allowing a general Takaful operator to function entirely through digital channels without physical branches.
The development is being viewed as a meaningful step toward improving insurance and Takaful inclusion in Pakistan. Digital only operators are structured to significantly reduce operating and distribution costs, making it viable to offer affordable, small ticket protection products at scale for masses.
Commenting on the approval, Dr Saira Siddique, CEO of MedIQ Private Limited, said that the registration reflects a shift in how Takaful can be delivered in Pakistan. “Digital only Takaful models have the potential to make Shariah compliant protection more accessible, affordable, and inclusive Insurance. By leveraging technology and digital distribution, we can significantly expand the reach of Takaful across Pakistan.”
First Digital Takaful plans to offer Shariah compliant general protection products through digital platforms. Its proposed product portfolio includes health, personal accident, auto, travel, devices, assets, agriculture, livestock and income protection.
Copyright Business Recorder, 2026
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