Pak-Qatar General Takaful Limited announces Financial Results for 2023

Pak-Qatar General Takaful Limited (PQGTL or the Company), a leading provider of Shariah-compliant general Takaful solutions in Pakistan has announced its financial results for the year ended December 31, 2023. PQGTL is part of Pak-Qatar Group, Pakistan’s premier and pioneer Islamic financial conglomerate. PQGTL is rated ‘A+’ (Single A Plus) having a Stable Outlook by Pakistan Credit Rating Agency (PACRA) and ‘A’ (Single A) having a Stable Outlook by VIS Credit Rating Company Limited.

The Board meeting presided over by Sheikh Ali bin Abdullah bin Thani al-Thani, the Chairman of Pak-Qatar Group, discussed the financial results of the company for 2023 and its plans for 2024, in the meeting held in Doha, Qatar. It was attended by the Directors – M/s. Said Gul, Abdul Basit Ahmad al-Shaibei, Ali Ibrahim Al Abdul Ghani, Zahid Hussain Awan and Muhammad Kamran Saleem. Saqib Zeeshan, Deputy CEO of the Company also attended the meeting

Overview of Financial Performance:

During 2023, Pak-Qatar General Takaful Limited achieved a turnover of PKR 1.26 Billion. Shareholders Fund posted a net profit after tax of PKR 101.2 million with an EPS of PKR 1.99 per share despite all challenges; while the Participants’ Takaful Fund (Waqf Fund) generated an annual surplus of PKR 40.57 million. The Company has increased its net equity & break-up value per share through impressive gro

Comments

CBD Punjab Celebrated Pakistan Resolution Day with Patriotic Fervor

The Punjab Central Business District Development Authority (PCBDDA), also known as Central Business District Punjab (CBD Punjab), proudly commemorated Pakistan Resolution Day with unwavering dedication to the nation's progress. Held at the CBD Punjab headquarters, the ceremony was attended by COO CBD Punjab, Brigadier (R) Mansoor Janjua, directorate heads, senior officials, staff members, and ancillary staff, all united in the spirit of patriotism and national pride. The event began with a flag hoisting ceremony, symbolizing the steadfast commitment to uphold the principles of unity, faith, and discipline, and to strive for the betterment of the country while keeping the national flag flying high. The national flag soaring high served as a powerful symbol of prosperity and sovereignty. Addressing the gathering, COO CBD Punjab, Brigadier (R) Mansoor Janjua, emphasized the importance of commemorating the historic Pakistan Resolut

Huawei and OPPO Sign Global Patent Cross-licensing Agreement

Huawei and OPPO announced the signing of a global patent cross-licensing agreement, which covers cellular standard essential patents, including 5G. "After more than 20 years of continuous innovation, Huawei has developed multiple high-value patent portfolios in the global marketplace in domains like 5G, Wi-Fi, and audio/video codecs," said Alan Fan, Head of Huawei's Intellectual Property Department. "We are delighted to have reached a cross-licensing agreement with OPPO. The mutual recognition of intellectual property value between companies is a major step towards fostering a positive cycle of innovation and research in high-value standards: investing, receiving returns from investment, and then reinvesting. This will enable our industry to keep innovating and provide consumers with more competitive products and services." "We are very pleased to enter into patent cross-licensing agreement awith Huawei. It clearly demonstrates that the two compan

Economic confidence among finance professionals edges higher globally despite big fall in North America

The latest ACCA (the Association of Chartered Certified Accountants) and IMA ® (Institute of Management Accountants)  Global Economic Conditions Survey (GECS) suggests that confidence among accountants and finance professionals edged slightly higher in Q2 2024 and is just above its historical average. For chief financial officers (CFOs), all the key global indicators rose, with sharp gains evident in the New Orders and Capital Expenditure indices. There were some notable regional differences . Western Europe-based accountants reported another decent increase in confidence as the euro area and UK economies continue to stage recoveries. Even Asia Pacific saw a small rise off the back of a huge gain previously, and the New Orders Index increased strongly. The region is benefitting from improvements in the global economy, including in the manufacturing sector and the upward moving technology cycle. However, North America’s financial profe

Tech UP

Search This Blog