KARACHI: The Pak-Qatar Family Takaful Limited (PQFTL), a leading Pakistani Shariah-compliant family insurance provider, has introduced instant withdrawal facility for its customers, the company said on Monday, adding that this is the first time that a takaful operator in Pakistan had offered such a facility.
The PQFTL is a technology-driven Shari’ah-compliant company providing innovative takaful (insurance) solutions since 2007, according to the Pakistan Credit Rating Agency (PACRA).
The PQFTL said the new service would allow participants to withdraw partial funds in case of emergencies with ease and instant access through the company’s mobile app or its online portal.
“Our strategic approach not only enhances our end-to-end service delivery but also aligns with our vision to provide innovative and customer-centric financial solutions,” Waqas Ahmad, CEO of the PQFTL, said in a statement.
“We believe this facility will greatly benefit our participants by providing them with unprecedented ease of access to their funds.”
This integration will enable participants to easily draw their funds, enhancing convenience and accessibility for the users, according to the company.
“This unique facility represents a significant step forward in the evolution of Islamic financial services in Pakistan, providing customers with more flexibility and control over their financial assets,” it said.
“PQFTL remains committed to driving innovation and excellence in the Islamic financial services industry and this initiative is a display of PQFTL’s dedication to prioritizing customer satisfaction and convenience.”
In a first, Pakistani Shariah-compliant insurance provider introduces instant withdrawal facility
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In a first, Pakistani Shariah-compliant insurance provider introduces instant withdrawal facility
- The new service will allow participants to withdraw partial funds in case of emergencies through the company’s mobile app, online portal
- Company official says this unique facility represents a ‘significant step forward’ in the evolution of Islamic financial services in Pakistan
Pakistan, UK launch £10 million higher education partnership
- Pak-UK Education Gateway second phase expands climate research, scholarships, university exchanges
- First phase was launched in 2018 and delivered 165 partnerships, 2,000 joint studies and £5 million in grants
ISLAMABAD: Pakistan’s Higher Education Commission (HEC) and the British Council have launched the £10 million second phase of the Pak-UK Education Gateway, the HEC said on Monday, a joint initiative aimed at deepening collaboration between universities in both countries on research, mobility and higher-education reform.
The program, funded equally by the HEC and the British Council, builds on a partnership launched in 2018 and seeks to strengthen institutional ties between Pakistani and British universities, focusing on shared challenges including climate change, skills development and economic growth.
Education cooperation has become an increasingly important pillar of broader Pakistan-UK relations, as both countries look to expand academic mobility, research collaboration and international recognition of qualifications at a time when higher-education systems face pressure to respond to climate risks, labor-market shifts and funding constraints.
“This £10 million partnership is set to deepen collaboration between UK and Pakistani universities on critical issues like Climate Change and Mobility. A true system-to-system commitment,” the HEC said in an X post.
According to the British Council and HEC, the first phase of the Pak-UK Education Gateway supported 165 institutional partnerships, generated around 2,000 joint research papers and awarded £5 million in research grants. Officials say the second phase aims to build on that foundation as part of a longer-term effort to internationalize Pakistan’s higher-education sector.
“Education is the building block of growth and prosperity. Our work on education in Pakistan supports people throughout their lives: from helping reform education policy at the school level, to our strong partnership in higher education,” British High Commissioner Jane Marriott said in a statement.
“This next phase builds on our already strong relationship, and will unlock opportunities to help both our higher education sectors thrive.”
Opportunities under the second phase include increased funding for scholarships, joint research grants and faculty exchanges, alongside a Start-Up Challenge Fund to support Pakistan-UK university collaborations pursuing commercial opportunities and access to new markets.
The program will also focus on leadership and governance reforms within Pakistan’s higher-education system, including quality assurance, improved campus accessibility for people with disabilities, and greater participation of women in senior leadership roles. It further aims to expand opportunities for Pakistani students to study UK-accredited courses without leaving their home cities, alongside a commitment to mutual recognition of qualifications.
Pakistan’s Minister for Federal Education and Professional Training Khalid Maqbool Siddiqui said the initiative had already delivered concrete results since its launch in 2018, calling education “the bridge that connects people, cultures, and futures.”
Acting HEC Chairperson Nadeem Mahbub described the Gateway as a system-to-system partnership rather than a stand-alone program, noting that it had benefited institutions and students in both countries.
