Aug. 31 last date for Pakistanis to apply for OIC young scientists’ fellowship

The picture shared by COMSTECH on February 15, 2024 shows the exterior view of COMSTECH in Islamabad, Pakistan. (COMSTECH/Facebook)
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Updated 27 August 2024
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Aug. 31 last date for Pakistanis to apply for OIC young scientists’ fellowship

  • Fellowship, conducted at Sharif University of Technology, has been designed to support scientists from Islamic countries
  • Program provides fellowships to scholars, technologists, faculty members under 40 years of age who hold Master’s degree

ISLAMABAD: August 31 will be the last date for Pakistanis to apply for the Young Scientists’ Fellowship Program (YSTP) being executed through the support of the Mustafa Science and Technology Foundation (MSTF) and COMSTECH, the OIC Standing Committee on Scientific and Technical Cooperation, Pakistan’s state-run APP reported on Tuesday. 

The fellowship program, to be conducted at the Sharif University of Technology in Tehran, has been designed to support young scientists from Islamic countries.

“The fellowship program has been announced in the research areas of Mechanical Engineering, Renewable Energy and Turbines, IOT and ICT, Water and Environment, Oil and Gas, Earthquake, Electronics, Nano Biochemistry, Transportation, Data Science and AI, Entrepreneurship and Innovation, Biotechnology and Biomedical Engineering,” APP reported. 

“The initiative has been launched with the aim of capacity building and nurturing the young generation for the development of science, technology, and innovation in line with the values and needs of Islamic society.”

The program provides short-term fellowships to young scholars, technologists and faculty members under 40 years of age who hold at least a Master’s degree. The duration of the fellowships will be 6-12 months.

“The fellowship opportunity will help the fellows get acquainted with novel scientific and technological achievements in the Islamic world; share capacities and exchange new findings through networking and streamlining, and strengthen international relations to help develop science and technology,” APP said. 

The initiative is also aimed at deepening and institutionalizing international communications and collaborations, improving the quality of research studies, expanding the border of knowledge, and helping to solve important scientific and technological challenges of Islamic countries through international cooperation, APP added. 


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.