Words of Wisdom - the Editor

Peace.
Got busy with a new project. So couldn’t add more news. Although I came across a fine article by a brother on the history and future of Islamic Banking. I was surprised to know that Islamic banking had beginnings in 1975. Wow. That’s almost as early as my birth. And I guess if there are enough like minded people any idea is bound to grow. I too used to wonder if I can invest without plunging into interest based transactions.

UK I noticed is taking some fine initiatives to promote Shariah Finance. Also came across a western brother or atleast who calls Muslims his brothers and sisters but laughs cynically at the DOW Islamic index as 'bending backwards' to accommodate those guys who have four wives and cut of peoples hands. O well some people just don't get it, do they?

Wednesday, December 10, 2008

Pak-Qatar Takaful & Almeezan Investments sign Takaful Agreement!

Pak-Qatar Family Takaful Ltd and Al Meezan Investments have signed an agreement that will provide all investors of Al Meezan Investments' Mahana Kharch Account (MMKA) with Shari'ah-Compliant Free Takaful Coverage of up to 1 million rupees. The agreement was signed by P. Ahmed CEO Pak-Qatar Family Takaful and Muhammad Shoaib CFA Chief Executive Al Meezan Investments in Karachi today.

According to this agreement, individual investors of MMKA would be entitled to get Takaful cover in case of natural death, accidental death, permanent total disability and medical expense in case of accidents.  This Takaful cover will be offered at absolutely no additional charge to the Al Meezan investors.

Muhammad Shoaib CFA said that Al Meezan Investments has always focused on coming up with Halal Riba-free and innovative investment options for its investors and this Takaful cover arrangement with PQFTL is a sign of our continuous efforts.
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