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.

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.”

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.”