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

Pak Qatar Cash Plan (the "Plan"), operating under Pak Qatar Islamic Cash Fund, is a low-risk Shariah-compliant liquidity solution designed to provide competitive returns while preserving capital through a diversified portfolio of high-quality Islamic money market instruments. The Plan's disciplined investment approach and strict adherence to Islamic principles make it an attractive option for investors seeking Shariah-compliant cash management solutions. As of March 2025, the Plan reported Assets Under Management (AUM) of PKR 5.68 billion, reflecting its growing presence in Pakistan’s Islamic liquidity market. The Plan maintains a balanced asset class, with 36% invested in bank deposits, 26% in Development Finance Institutions (DFIs), 24% in Government Sukuks, and 13% in Corporate Sukuks, demonstrating a prudent approach to yield optimization and liquidity management within a Shariah framework. The Plan exhibits disciplined credit quality, with 66% of assets in AAA rated instruments, complemented by 23% in AA+ rated and 10% in A+ rated avenues. This investment-grade concentration provides substantial protection against credit risk while ensuring full compliance with Islamic investment principles. With both duration and Weighted Average Maturity (WAM) at 55 days as of March 2025, the Plan maintains moderate exposure to interest rate fluctuations, positioning it as a resilient option in volatile rate environments. The short maturity profile enhances liquidity while allowing for competitive returns.
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.