Pak-Qatar Family Takaful Limited has opened the book-building process for its Initial Public Offering, marking a milestone moment for Pakistan’s insurance and takaful industry. The two-day book-building window, commencing on December 11 and concluding on December 12, invites institutional and high-net-worth investors to bid for the entire 100 percent issue size of the offering. This IPO is the first of its kind by a dedicated Family Takaful company in Pakistan, signaling a notable expansion in the country’s growing Shariah-compliant financial services sector.
The structure of the offering sets aside 75 percent of the issue, amounting to 37.5 million shares, for successful bidders through provisional allotment. The remaining 25 percent, or 12.5 million shares, will be offered to retail investors during the upcoming public subscription phase. Pak-Qatar Family Takaful aims to raise approximately Rs1.1 billion through the offering, with the floor price fixed at Rs14 per share. The price may rise up to Rs21 per share under the allowable 50 percent upper band during book building.
According to Shahid Ali Habib, CEO of Arif Habib Limited and lead manager for the IPO, the offering represents a landmark opportunity for the Pakistan Stock Exchange as strong institutional interest signals confidence in the long-term prospects of the takaful sector. The company’s listing is expected to draw considerable attention from both domestic and international investors seeking exposure to the country’s expanding Islamic finance ecosystem.
PQFTL plans to utilize the capital raised from the IPO to strengthen its regulatory capital base, upgrade its digital distribution capabilities, and introduce enhanced customer-focused takaful and investment products. The company is backed by major financial institutions from Qatar and aims to widen its presence within Pakistan’s evolving insurance and takaful environment.
As the pioneer and largest dedicated Family Takaful operator in Pakistan, PQFTL holds a dominant 44 percent share of the national family takaful market. Within the dedicated Family Takaful segment, its share stands at an exceptional 90.47 percent. It also maintains a 6.6 percent share of the country’s broader life insurance sector, reflecting its strong footprint in both Shariah-compliant and general insurance categories.
PQFTL’s operational network includes 73 branches across the country and a workforce of nearly 2,000 field representatives. The company also collaborates with 14 major banks to distribute its products through bancatakaful arrangements. Its approach blends traditional field presence with emerging digital channels, enabling wider access to takaful and investment solutions nationwide.
Despite Pakistan’s low insurance penetration rate of only 0.7 percent in 2024, sector analysts point to promising long-term growth prospects. Rising financial awareness, expanding digital adoption, and improving economic stability are expected to drive insurance and takaful uptake in the coming years, aligning Pakistan more closely with global trends where insurance penetration is significantly higher.
The initiation of PQFTL’s IPO adds momentum to the country’s capital markets and highlights growing interest in Shariah-compliant financial offerings, underscoring a broader shift toward inclusive and innovative insurance solutions.
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