03/05/2023
Kuwaiti Investors Make Biggest FDI In Pakistan’s Takaful Sector
5th Pillar Family Takaful Limited, a newly licensed Takaful company, has received the largest ever Foreign Direct Investment (FDI) in the Pakistani Takaful Industry. The company has raised a whopping PKR 2 billion paid-up capital and will offer a complete range of innovative Family Takaful products, with a special focus on Hajj and Umrah saving plans.
The company has received “A+ Stable Outlook” IFS rating from the Pakistan Credit Rating Agency (PACRA), making it the highest-ever for a new Takaful company. This achievement highlights the strong financial position and stability of the company, which is backed by renowned investors from Pakistan and Kuwait with multi-billion dollar investments globally.
The sponsors of the company are also developing a complete end-to-end value chain to facilitate cost-effective Hajj and Umrah experiences both in Pakistan and Saudi Arabia. This is a revolutionary endeavor to enable millions of Muslims in Pakistan and other countries to fulfill their dreams of performing Hajj with ease and comfort.
5th Pillar Family Takaful Limited has started its operations in Pakistan, with the vision to expand to Bangladesh, Indonesia, Turkey, and Egypt.
