Pak-Qatar Family Takaful and Meezan Bank Sign Agreement to Launch Instant Withdrawals facility
Pak-Qatar Family Takaful Limited (PQFTL), Pakistan’s Pioneer and leading Family Takaful Company and Meezan Bank, Pakistan’s leading Islamic bank, have announced a strategic partnership aimed at revolutionizing the financial landscape in Pakistan. This collaboration was formalized through a Memorandum of Understanding (MoU) signed by Mr. Waqas Ahmad – Chief Executive Officer, Pak-Qatar Family Takaful Limited, and Mr. Muhammad Abdullah Ahmed – Group Head Transaction & International Banking at Meezan Bank, in the presence of senior management teams from both organizations.
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Through this partnership, PQFTL has introduced an innovative instant withdrawal service for its clients through integration with Meezan Bank’s network, setting a new benchmark in Shariah-compliant financial services. This service will enable PQFTL’s Mahana Bachat and Takaful flexi plan clients only to receive funds in their accounts within minutes. This is a first of a kind service being offered by any Takaful Company in Pakistan.
Commenting at this occasion, Mr. Waqas Ahmad – Chief Executive Officer of Pak-Qatar Family Takaful Limited said, “We are delighted to offer this innovative instant withdrawal service. Our strategic approach not only enhances our end-to-end service delivery but also aligns with our vision to provide innovative and customer-centric financial solutions. We believe this facility will greatly benefit our participants by providing them with unprecedented ease of access to their funds.”
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Mr. Muhammad Abdullah Ahmed – Group Head Transaction & International Banking, Meezan Bank expressed his views on the partnership, stating, “This collaboration with Pak-Qatar Family Takaful represents a significant advancement in Shariah-compliant financial solutions. Our eBiz+ Payment system is designed to provide seamless, real-time services, and we are pleased to support PQFTL in delivering this innovative feature to their clients.”
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