The signing ceremony of the Memorandum of Understanding (MoU) between the Pak-Qatar Family Takaful Limited (PQFTL) and the Institute of Islamic Banking - University of Management and Technology (IIB-UMT) was held on 2nd May, 2016 at UMT, Lahore. The MoU was signed by Mr. Waqas Ahmed (Chief Operating Officer, PQFTL) and Mr. Muhammad Mahmood Shah Khan (Director, IIB-UMT). Dr. Hassan Suhaib Murad (Rector, UMT) also present there to grace the occasion. According to MoU, each party will endeavor to take necessary steps to encourage and promote co-operation in the following areas: a) Research partnership and collaboration for conducting the trainings and certifications in Takaful; b) Marketing and paid internship of IIB-UMT students; c) Joint international seminars/workshops on mutually agreed topics of Takaful; d) Sharing existing publications as well as new course contents on Takaful; and e) Any other areas of co-operation to be mutually agreed upon by the Parties.
The PQFTL an unlisted public limited company, incorporated under the laws of Islamic Republic of Pakistan and having its registered office in Karachi. PQFTL, the pioneers of Family Takaful, is a progressive and a technology-driven Shariah Compliant company providing innovative Takaful solutions in Pakistan. The company is the fastest growing Family Takaful operator in the region.
The IIB-UMT is a premier leading institute of knowledge center for Islamic Banking and Finance in Pakistan for the development and promotion of Shariah compliant teachings as a medium for economic and financial growth, wealth and prosperity. The Institute is committed to promoting excellence in teaching, research and training. It offers students a friendly and conducive environment for learning and research.
This MoU will come into effect on the date of signing and will remain in the effect until terminated in writing by the Parties. PQFTL and IIB-UMT will look forward to a productive and wonderful partnership.