ISLAMABAD: Pakistan and Malaysia have agreed to deepen bilateral military cooperation, with a particular emphasis on joint training and air power collaboration, Pakistan’s military said on Friday.
The understanding was reached during a meeting between Pakistan Air Force (PAF) Chief Air Chief Marshal Zaheer Ahmed Baber Sidhu and Royal Malaysian Air Force Chief General Tan Sri Dato’ Sri Mohd Asghar Khan bin Goriman Khan at Air Headquarters in Islamabad.
“The [Pakistan] Air Chief reaffirmed his commitment to enhancing military partnership between the two Air Forces through joint training initiatives, particularly within the realm of air power,” the Inter-Services Public Relations (ISPR) said in a statement. “These initiatives will encompass provisioning of both basic and tactical level training for personnel of the Malaysian Air Force.”
The Malaysian air chief, making his first visit to Pakistan, praised the PAF’s advancements in indigenization and technological innovation. He also expressed interest in bolstering ties through enhanced collaboration in training, maintenance and operational excellence.
The meeting included discussions on defense cooperation, joint exercises and technology sharing, ISPR said, highlighting the robust defense relationship between the two nations.
During his visit, the Malaysian official toured the National Aerospace Science & Technology Park Silicon and the PAF Cyber Command, where he was briefed on Pakistan’s advanced operational capabilities.
He also lauded the innovative projects displayed at the ongoing International Defense Exhibition IDEAS-2024 in Karachi.
Earlier, the Malaysian air chief was presented with a guard of honor upon his arrival, ISPR added.
Pakistan, Malaysia agree to enhance military cooperation with focus on air force training
https://arab.news/8buqd
Pakistan, Malaysia agree to enhance military cooperation with focus on air force training
- Malaysian air chief praises PAF’s advancements in indigenization on his first Pakistan visit
- His Pakistani counterpart reaffirms commitment to training Malaysian Air Force personnel
Pak-Qatar becomes Pakistan’s first dedicated family takaful operator to list on PSX
- Pak-Qatar Family Takaful Limited’s initial public offering raises $3.2 million, says company
- Company says remains committed to strengthening Pakistan’s Islamic financial eco-system
KARACHI: The Pak-Qatar Family Takaful Limited (PQFTL) became the first dedicated family Takaful operator to be listed on the Pakistan Stock Exchange (PSX), the company announced on Thursday, saying the development would strengthen the ecosystem for Islamic financial products and services in the stock market.
PQFTL is the country’s first and largest dedicated shariah-compliant family risk-protection provider, holding 44 percent of the total family takaful market and more than 90 percent of the fully dedicated segment, with a nationwide presence of 73 branches and 1,971 field representatives.
The company announced in a statement last month it would offer 50 million shares, starting at a floor price of Rs14 per share ($0.05), with a ceiling of Rs21 per share ($0.07). Of the total issue, 37.5 million shares will be allocated to institutional investors, while 12.5 million shares will be offered to the general public.
In its latest statement, the PQTFL said the book building and public subscription portions of its Initial Public Offering (IPO) were oversubscribed by 3.2 times and 3.8 times, respectively, reflecting strong investor confidence in the company and Pakistan’s Islamic financial ecosystem.
“The IPO raised Rs901 million [$3.2 million], achieving a 29 percent premium, reflecting strong investor interest and positive market perception,” the statement said.
“This historic milestone and response from investors underscore PQFTL’s exceptional financial resilience, strategic foresight, and unwavering commitment to Shariah-compliant excellence,” it added.
The company said over 8,200 investors participated in the IPO, making it one of the highest investor turnouts in Pakistan’s insurance and Takaful sector.
“The offering attracted a diverse mix of institutional investors, insurance companies, family offices, corporate investors, and a significant number of individual investors,” it said.
Muhammad Kamran Saleem, a member of the board of directors of the PQFTL, said the company’s listing on the stock exchange was a “historic achievement.”
“The overwhelming response from investors demonstrates deep trust in our business fundamentals, Shariah governance standards and strategic vision,” he said.
“We are grateful to Allah Almighty for this historic achievement and we remain committed to strengthening the Islamic financial eco-system and long-term sustainable value creation to all our stakeholders.”
PQFTL said the IPO proceeds will help it in meeting regulatory capital requirements, expand digital distribution channels, enhance product innovation and drive customer-centric growth initiatives.
