Pakistan Prime Minister Nawaz Sharif has stressed on the key role the private sector could play in further developing the bilateral relationship between his country and Qatar.
He was speaking after receiving a delegation led by Sheikh Ali bin Abdullah al-Thani, chairman of Pak-Qatar Takaful Group, which includes Pak-Qatar General Takaful and Pak Qatar Family Takaful in Islamabad recently.
The meeting was attended among others by Saqr Mubarak al-Mansouri, Qatar’s ambassador to Pakistan and Abdulbasit Ahmed al-Shaibei, QIIB chief executive officer.
Welcoming Sheikh Ali and his accompanying delegation, Sharif expressed his satisfaction over improving relations between the business sectors in both the countries. The Pakistani prime minister pointed out that more efforts are needed to be exerted to develop many areas, where the private sectors in both the countries were greatly responsible for strengthening mutual cooperation.
Nawaz Sharif underlined the tremendous facilities being offered by the Pakistani government to investors in general and the Qatari businessmen in particular, and welcomed any activity or initiative that promotes bilateral cooperation in a way that benefits both the sides.
Sheikh Ali expressed his gratitude and appreciation to the Pakistani Prime Minister for his “great support and wise directions” to strengthen ties and relations between the business sectors of both the countries.
Sheikh Ali presented a brief on Pak-Qatar Takaful Group’s activities and successes and its role in the Pakistani insurance sector, where during the last few years, the company expanded significantly and opened nearly 45 branches and a thousand representative offices in various Pakistani cities.
The Pak-Qatar Takaful Group’s total assets amounted to approximately 15bn rupees and was able to emerge at the third place in the private insurance market in Pakistan. It continues to develop its business and strengthen its role in order to offer an added value to the Pakistani insurance sector.
Sheikh Ali also informed that an application was submitted on behalf of QIIB for a licence to operate in the Pakistani market in order to bring new expertise in Islamic banking in Pakistan and build on the successes made in this respect by the country. This will also help finance various projects being carried out by the business sector in Pakistan.
He also expressed his hope that the application would be approved in the near future.