The Pak-Qatar Asset Management Company Limited (PQAMCL) has announced that the Securities and Exchange Commission of Pakistan has accorded approval to the company for the launch of its Shariah Compliant Collective Investment Schemes (Mutual Funds). The company obtained its license to operate as an Asset Management Company and Investment Advisor in December 2021 and now it was going for the IPO of its funds, said a press release received by WealthPK.

PQAMCL Chief Executive Officer Farhan Shaukat speaking at the launch ceremony said that his company had obtained approval to offer a wide variety of Shariah-compliant collective investment schemes with a flavour of Takaful, which was unique in the existing market that allowed its customers to diversify their investment portfolio. “We are also the second company that is exclusively offering the Shariah Compliant Collective Investment Schemes in Pakistan,” he said.

The company aimed to encourage customers to invest in its funds specifically designed for their investment needs, he added.  The company aimed to improve people’s lifestyles through the right investments with Riba-free returns, Farhan said.  Pak-Qatar Asset Management Company Limited is a part of the Pak-Qatar Group, which comprises Pak-Qatar Family Takaful Limited, Pak-Qatar General Takaful Limited and Pak-Qatar Investment Limited.

Credit: Independent News Pakistan-WealthPk