Pak-Qatar Family Takaful assigned 'A-' rating having 'Stable' outlook

Outlook on the rating is 'Stable'.

The rating incorporates strong sponsor support from Qatar based financial institutions having sound credentials, said the JCR-VIS report.

The rating takes into consideration the focus of the company on establishing a strong control environment, development of manuals and standard operating procedures (SOPs) and implementation of MIS, which has also been deployed and tested in International Islamic Financial Institutions.

The report further mentions that the management team of Pak-Qatar Family Takaful comprises dedicated, experienced, and qualified personnel having mindsets aligned with the philosophy of Takaful and the vision of the company. The company depicted significant growth during the last quarter of 2008, the report added.

This rating indicates the company's institutional capacity and the technical competence to meet the participant and contract obligations.

Pak-Qatar Family Takaful Limited, the pioneers of Family Takaful in Pakistan, has spread its geographical reach in the country and is quickly growing in its corporate and individual customer base.