5th Pillar Family Takaful Limited, a newly licensed Takaful company in Pakistan, has attracted the largest ever Foreign Direct Investment (FDI) in the Pakistani Takaful Industry, raising PKR 2 billion in paid-up capital. The company aims to offer a complete range of innovative Family Takaful products, with a particular focus on Hajj and Umrah saving plans.
The Pakistan Credit Rating Agency (PACRA) has awarded 5th Pillar Family Takaful Limited an “A+ Stable Outlook” IFS rating, the highest ever for a new Takaful company. This achievement highlights the company’s strong financial position and stability, which is supported by renowned investors from Pakistan and Kuwait with multi-billion dollar investments worldwide.
The company’s sponsors are also developing an end-to-end value chain to facilitate cost-effective Hajj and Umrah experiences in Pakistan and Saudi Arabia. This groundbreaking endeavor aims 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 already begun operations in Pakistan and plans to expand to Bangladesh, Indonesia, Turkey, and Egypt with the vision of providing their innovative products and services to a broader market.