PACRA Maintains Stability Rating of Pak Qatar Asan Munafa Plan under Pak Qatar Islamic Cash Fund

Pak Qatar Asan Munafa Plan (or the ‘Plan’) is an allocation plan under “Pak Qatar Islamic Cash Fund”. The Plan maintains a low-risk profile. The investment objective of the Plan is to focus on generating competitive return while seeking maximum possible preservation of capital by investing in low risk and liquid Shariah Compliant instruments in accordance with Shariah Compliant Islamic Money Market Category. As of March 2025, the Plan reported Assets Under Management (AUM) of PKR 227 million, reflecting its focused presence in Pakistan's Islamic liquidity market. Regarding asset class, 51% of assets were allocated to bank deposits, 22% to Government Sukuks, 13% in Development Finance Institutions (DFIs), and 12% in Corporate Sukuks, demonstrating a prudent approach to Islamic liquidity management. From a credit quality perspective, 81% of assets in AAA rated instruments, complemented by 9% in A+ rated and 8% in AA rated avenues. This investment grade concentration provides substantial protection against credit risk while maintaining full Shariah compliance. With both duration and Weighted Average Maturity (WAM) standing at 47 days as of March 2025, the Plan maintains minimal exposure to interest rate movements. This Islamic liquidity Plan offers stability in changing rate environments, helping to minimize the impact of monetary policy shifts.
Going forward, any material changes in the investment policy or the devised rating criteria for the assigned rating would have an impact on the ratings.

About the Entity
Pak Qatar Asset Management Limited, established in 2021, is licensed by the SECP to carry out asset management and investment advisory business. The major shareholder of the Company is the holding company Pak Qatar Investment (PVT) Ltd which holds 52% of stake and remaining shareholder include FWU AG (20%), and Pak Qatar Family Takaful (5%). However, two board directors Mr. Owais Ansari and Mr. Kamran Saleem also hold 14% and 7%. The Company's board is composed of five members, with representation of two members from Pak Qatar Investment Limited, one representative of Pak Qatar Family Takaful Limited, one representative of FWU AG and one independent director. The CEO, Mr. Farhan Shaukat, FCA, has been associated with the group for over a decade heading Treasury function of the group. The AUMs of the Company stood at PKR 60.4bln at the end of Mar'25.