Pak-QatarTakaful Group signs a MoU with SAP Pakistan

By signing this agreement Pak-Qatar Takaful becomes the first company in the Takaful/insurance sector and the second in the whole of financial services industry in Pakistan to implement SAP, achieving yet another pioneering feat.

Speaking on the occasion, CEO Pak-Qatar Family Takaful Limited, P. Ahmed said, "This sizeable investment in SAP is the continuation of our commitment to the people of Pakistan to provide need-based Takaful solutions and exemplary customer-service."

Pak-Qatar Takaful Group also invested in the procurement of state-of-the-art PentaTakaful systems from Malaysia, in 2008.

Asim Haque, Director, Financial Services Business, SAP Pakistan said, "We are delighted to be associated with Pak-Qatar Takaful, along with our Partner SHMA, in this project. It is very encouraging that financial services companies like Pak-Qatar Takaful are realizing the value that SAP has to offer to the financial industry in Pakistan."

SAP is the world's leading provider of ERP solutions with a global turnover of over $12bn. Today, more than 38,000 companies in more than 120 countries run SAP applications with 12 million users, from distinct solutions addressing the needs of small businesses and midsize companies to suite offerings for global organizations. SAP currently employs more than 51,400 people in more than 50 countries worldwide.

Mr. Omer Morshed, CEO, SHMA commented, "SHMA has been at the forefront for introducing the concept of Takaful in Pakistan. SHMA is proud and privileged to be associated with Pak-Qatar Takaful Group's pioneering initiative of implementing SAP."

Sidat Hyder Morshed Associates (SHMA), established in 1986, is regarded as a renowned professional services firm in Pakistan providing management consulting and systems support services to clients locally and overseas.

Pak-Qatar Takaful Group is sponsored by leading financial institutions in the State of Qatar. The group has a wide geographic reach in the country and is quickly growing in its corporate and individual customer base.