Pakistan naval chief discusses regional maritime security with UAE officials

Pakistani naval chief Admiral Muhammad Amjad Khan Niazi, second left, with Commander UAE Naval Forces, second right, during his visit to the United Arab Emirates on March 12, 2021. (Photo courtesy: @dgprPaknavy/Twitter)
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Updated 12 March 2021
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Pakistan naval chief discusses regional maritime security with UAE officials

  • Admiral Muhammad Amjad Khan Niazi welcomed to United Arab Emirates by Commander UAE Naval Forces and presented a guard of honor
  • Pakistani chief briefed about UAE navy, also visits shipbuilding facility, Naval Forces Institute and Ghantout Naval Base in Abu Dhabi

ISLAMABAD: Pakistani naval chief Admiral Muhammad Amjad Khan Niazi was welcomed to the United Arab Emirates by the Commander UAE Naval Forces and discussed regional maritime security with a number of top UAE navy officers, the Pakistan navy said on Friday.

“CNS Adm Muhammad Amjad Khan Niazi is on official visit to United Arab Emirates,” the Pakistan navy said in a tweet. “Adm was welcomed by Cdr UAE Naval Forces at NHQ & presented GoH.”

The navy said the Pakistani chief was briefed about the UAE navy and also visited a shipbuilding facility, the Naval Forces Institute and the Ghantout Naval Base in Abu Dhabi.

“The Naval Chief called on COS UAE Armed Forces & Commander UAE Naval Forces in separate meetings. During interactions with dignitaries, matters of bilateral defence collaborations & regional maritime security were discussed,” the Pakistan navy said.


"CNS highlighted PN’s initiative for maritime security in the region & thanked Cdr UAE Naval Forces for participation in Ex AMAN-21. The dignitaries acknowledged PN's efforts in support of collaborative maritime security & appreciated successful conduct of Ex AMAN-21."

Pakistan last month hosted the seventh biennial multinational “Aman” (peace) exercise in Pakistani waters aimed at fostering international cooperation to fight piracy, militancy and other crimes threatening maritime security. Around 45 navies, including those of the United States, Britain, UAE, and China, took part in the Arabian Sea exercise with ships and observers.


Pakistan’s first non-life Shariah-compliant takaful operator says ‘historic’ IPO oversubscribed 21 times

Updated 22 January 2026
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Pakistan’s first non-life Shariah-compliant takaful operator says ‘historic’ IPO oversubscribed 21 times

  • Pak-Qatar General Takaful Limited offered 30 million shares to investors with ceiling price of Rs14 per share
  • Company says IPO proceeds will be used for investments in software, infrastructure, setting up new branches

ISLAMABAD: Pakistan’s first non-life Shariah-compliant takaful operator announced on Thursday that its initial public offering (IPO) was oversubscribed 21 times at the country’s stock exchange, saying the development reflected strong investor confidence in the Islamic insurance system. 

The Pak-Qatar General Takaful Limited said earlier this month it would issue 30 million shares with a floor price of Rs 10 and a ceiling price of Rs 14 per share. Institutional investors will receive 75 percent of the shares on offer, while the remaining 25 percent will be allocated to retail investors, it added. 

“Pak-Qatar General Takaful Limited’s (PQGTL) IPO book-building has concluded with a historic oversubscription of [21x] times, marking the first-ever IPO of a dedicated General Takaful company at PSX,” the company said in a statement. 

It said investors responded “strongly” as the strike price closed at Rs 14 per share, compared to the floor price of Rs 10. Total demand reached Rs 4.74 billion [$17 million].

The company said successful bidders will be provisionally allotted 22.5 million shares while the remaining 7.5 million shares will be offered to retail investors on Jan. 28-29. 

Shahid Ali Habib, CEO of Arif Habib Ltd., which was the lead manager for the IPO, said that country’s first-ever IPO of any dedicated general takaful company, has made a historic debut at PSX.

Habib said this reflects investor confidence in Pakistan’s fast-growing takaful sector and PQGTL’s strong market position.

The statement further said proceeds from the IPO will be utilized to fund strategic initiatives, such as investments in software and other intangible assets, hardware and infrastructure, marketing and brand development and human resource enhancement. 

Proceeds will also be used to establish new branches and transform existing ones to improve operational efficiency and customer experience, it added. 

Pak-Qatar General Takaful Limited is part of Pakistan’s pioneer Islamic financial services group and is backed by Qatar-based financial institutions.