Pak Qatar Family Takaful assigned ‘A-’ rating

Daily Times: Pak-Qatar Family Takaful Limited (PQFTL) has been assigned an initial Insurer Financial Strength (IFS) rating of ‘A-‘ (Single A Minus) by JCR-VIS Credit Rating Co. Ltd. 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.