Peshawar, July 24, 2025: In a historic development for Pakistan’s Takaful sector, Pak-Qatar Family Takaful Limited (PQFTL) has been officially appointed by the Government of Khyber Pakhtunkhwa (KPK) as a licensed Pension Fund Manager under its Contributory Pension Fund (CPF) Scheme. PQFTL is now the first and only Takaful company in Pakistan to hold this prestigious position — a distinction that sets a new precedent for innovation, trust, and excellence.

This achievement was formalized during a high-level agreement signing ceremony, led by KPK Finance Minister Mr. Muzammil Aslam, and attended by senior government officials including Mr. Amer Sultan Tareen, Secretary Finance; Mr. Abdul Qayyum, Team Lead DMU; and Mr. Naveed Alam, Deputy Director, Pension Department.

Representing Pak-Qatar’s leadership were Mr. Said Gul and Mr. Kamran Saleem, Founders and Board Members; Mr. Waqas Ahmed, CEO; and Mr. Mehmood Arshad, Group Executive Director.

“The Contributory Pension Fund (CPF) Scheme, introduced by the Government of Khyber Pakhtunkhwa in 2022, is a pioneering initiative aimed at ensuring a secure financial future for government employees through a contribution-based model. Under this scheme, employees contribute 10% of their salaries, while the government contributes an additional 12% on a monthly basis, collectively building a sustainable retirement plan. To date, over 59,000 employees have already been registered”, quoted KPK Finance Minister Mr. Muzammil Aslam.

The CPF Scheme is a visionary, contribution-based pension model designed to provide a financially secure retirement for public sector employees. The program entrusts only those institutions that meet the highest regulatory and creditworthiness standards: A Pension Fund Manager license and a minimum AM2 credit rating, both overseen by the Securities and Exchange Commission of Pakistan (SECP).

Pak-Qatar Family Takaful not only met these strict criteria — it stood out, as the only Takaful operator in Pakistan with a Pension fund manager license with a AM2 rating from PACRA with stable outlook.  After a rigorous evaluation process, PQFTL earned the KPK government’s confidence to manage contributions in compliance with Shariah principles.

“We are honored to be entrusted by the KPK Government. This partnership aligns with our mission to provide ethical and Shariah-compliant financial solutions. It is a privilege to contribute to the long-term financial well-being of public servants through our Voluntary Pension Scheme and other tailored pension offerings.” said Mr. Waqas Ahmed, CEO of Pak-Qatar Family Takaful.

This groundbreaking appointment underscores Pak-Qatar’s exclusive status as the only Takaful company in Pakistan licensed as a Pension Fund Manager with a AM2 credit rating by PACRA, with a Stable Outlook and the sole Takaful entity chosen by any provincial government for pension fund management

Pak-Qatar’s inclusion in the CPF Scheme reinforces its reputation as a trailblazer in the Islamic financial ecosystem, committed to financial inclusion through ethical financial solutions.

About Pak-Qatar Family Takaful Limited:

Pak-Qatar Family Takaful is part of Pak-Qatar Group, Pakistan’s premier and pioneer Islamic financial services group. It provides comprehensive Islamic Financial Solutions that adheres to the principles of cooperation and mutual support, offering innovative and Shariah-compliant savings & protection solutions to individuals, families, and businesses. The company is rated “AM2” (with Stable Outlook) by Pakistan Credit Rating Agency (PACRA) as Pension Fund Management and “A++” (with a Stable Outlook) by VIS and PACRA.

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