Company Profile | Takaful Pakistan Limited | Shariah Insurance Pakistan

History Of TAKAFUL Pakistan Introduction, Vision, Mission & Ambition


Takaful Pakistan Limited was incorporated in June, 2006 with its registered head-office in Karachi. With an authorized capital of Rs. 700 million, issued Capital of Rs. 500 million all fully paid-up as at 30 September 2018, the Company is sponsored by reputable financial institutions both local and foreign. Managed and supervised by a qualified and distinguished Shariah Adviser, Takaful Pakistan Limited has the capacity to underwrite risks in all avenues of General Insurance namely, Property (Fire & Engineering), Marine, Motor, Liabilities, etc. In addition, the Company has the expertise and arrangements with overseas ReTakaful operators enabling it to offer comprehensive coverage for large infra-structure projects, specialized risks and umbrella/blanket covers specifically tailored for Islamic banking operations as well as for large corporate groups. The Company currently operates branches in Lahore and Peshawar besides its Head Office in Karachi.


TakafulPakistan Limited aims to lead the contemporary insurance/Takaful market ensuring that its operations are riba-free and are in line with the cardinal Islamic principles. Takaful Pakistan Limited also offers a unique option of return of surplus to its clients whereby any balance remaining in its Waqf-Fund shall be returned to the Participants in proportion to their original contributed amount. Takaful Pakistan’s Management manages, as Takaful Operator, the general takaful operations for the participants of its Participants’ Takaful Fund (PTF) 40% of gross contribution as Wakala fee to meet the general and administrative expenses of the company.
Takaful Pakistan’s Management also manages the participants’ investment as Modarib and charges 25% of the general takaful investment income earned by the PTF as Modarib’s share. Rating: Takaful Pakistan Limited has been assigned ‘A-’ rating with STABLE outlook by PACRA. It is currently the only rated Takaful Company in the country and one of the few amongst contemporary insurance companies that have been assigned A ratings.

We Have Thoughts What We Believe

We Have Vision

To spread Takaful benefits beyond borders, beyond Time!


To be a role model for the contemporary insurance industry and eventually bring it in conformity with the Shariah compliant Takaful mode of insurance


  • To deliver Takaful as a viable alternative to conventional insurance.
  • To become the ‘top-of-the-mind’ Takaful brand for our Participants in terms of competitiveness, service standards and business ethics
  • To give value for money to our shareholders and make Takaful Pakistan their prized asset.
  • To become an ideal organization for our employees that encourages them to achieve self-actualization and growth.
  • To contribute positively and proactively for the welfare of our society at large as well as for the preservation of our environment.


The Board of Directors has prepared this statement of ethics and business practices to establish a standard of conduct for employees and Directors of Takaful Pakistan Limited ‘the Company’, to be employed for conduct of its business and the business of the Participants’ Takaful Fund under its management. Each director and employee signs the statement in acknowledgement of his/her understanding and acceptance of the standard of conduct.


The Directors and employees of the Company shall:
  • Act with integrity, competence and dignity when dealing with the public, participants, prospects, employers, directors and peers.
  • Practice and encourage others to practice in a professional and ethical manner.
  • Strive to maintain and improve their competence and the competence of others in the profession.
  • Use reasonable care and exercise independent professional judgement.
  • Refrain from divulging Company’s sensitive information to outsiders.

Fundamental responsibilities:

  • The directors & employees shall maintain knowledge of and comply with all the applicable laws, rules and regulations governing the Company;
  • Not knowingly participate or assist in any violation of such laws, rules or regulations

Relationship with and responsibilities to the Company:
Directors shall:

  • Not undertake any independent practice that could result in compensation or other benefit in competition with their Company unless they obtain written consent from both Company and the person or entities from which they undertake independent practice.
  • Disclose to the Company all matters, including beneficial ownership of securities or other investments that could reasonably be expected to interfere with their duty to the Company or ability to make unbiased and objective recommendations.
  • Comply with prohibitions or activities imposed by the Company if a conflict of interest exists.
  • Exercise reasonable supervision over those subject to their supervision or authority to prevent any violation of applicable statutes or regulations.
  • Ensure proper flow of adequate information.

Relationship with and responsibilities to clients and prospects:

Directors & employees shall:
  • Exercise diligence and thoroughness in the performance of their duties, recommendations or in taking actions.
  • Have a reasonable and adequate basis, supported by appropriate research and investigation, for such recommendations or actions.
  • Make reasonable or diligent efforts to avoid any material misrepresentation.
  • Maintain appropriate records to support the reasonableness of such recommendation or action.
  • Use reasonable care and judgment to achieve and maintain independence and objectivity in the performance of their job responsibilities.
  • Must act for the benefit of the participants and place participants’ interests before their own.
  • Preserve the confidentiality of information communicated by their clients, prospect or employers concerning matters within the scope of client-employee or employer-employee relationships unless the employee receives information concerning illegal activities on the part of the client, prospect or employer.
  • Not make any statement, orally or in writing, that misrepresent:
  •    a- The services that they or the Company is capable of performing
       b- Their qualifications or the qualifications of the Company
       c- The academic or professional credentials
       d- Any assurance or guarantees regarding any Takaful coverage except to communicate accurate information regarding the terms of the policy instrument and the issuer’s obligations under the said Takaful policy.
  • Not make any statement, orally or in writing, that misrepresent the performance that they or their Company has accomplished or can reasonably be expected to achieve.
  • Not communicate individual or Company performance information directly or indirectly to the participants, or prospective participants or in a manner intended to be received by participants or prospective participants and shall make reasonable effort to ensure that such information is fair, accurate and a complete presentation of such performance.

Corporate Information

Company registration no. 12775
Status of the company Small-Sized Company(SSC)
National Tax Number (NTN) 2668683-0
Detail of permissible business activities Non-life (General Takaful)
Information about the permission Permitted through registration No. 189, dated 9th March, 2007.
Name of Statuary auditor KPMG Taseer Hadi & Co. Chartered Accountants, Sheikh Sultan Trust Building No.2 Beaumont Road, Shahrah-e-Faisal, Karachi - 75530, Pakistan Phones: (0092-21) 3568 5847 Fax: (0092-21) 3568 5095 Web:
Name of Internal Auditors EY Ford Rhodes Chartered Accountants.
Regulator of the company along with address and website Securities & Exchange Commission of Pakistan Insurance Division, State Life Building-2 4Th Floor, Wallance Road, Karachi, Pakistan Web link:
Legal advisor Mohsin Tayebaly & Co Address: 2nd Floor,Dime Centre,BC-4, Block-9,KDA-5,Kehkashan, Clifton Karachi Contact Info: Phone: 021-35375658 Phone: 021-35375659 Fax: 021-35870240 Website:
Corporate Advisor RS Corporate Advisory. First Floor, Plot No.62, Central Commercial Area (CCA), Block-T, Phase-2 DHA, Lahore Cantt.
Membership Insurance Association of Pakistan (IAP) & Karachi Chamber of Commerce and Industries (KCCI)
Share registrar Central Depository Company of Pakistan Limited,CDC House.99-B,Block-B, S.M.C.H.S,Main Shahra-e-Faisal. Karachi.|Tel UAN:(+92 21) 111 111 500| Email: