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 September 2025, the Plan reported Assets Under Management (AUM) of PKR 261.29 million, reinforcing its role as a focused Islamic liquidity solution within Pakistan’s Shariah-compliant investment landscape. The asset allocation remains highly liquid and diversified, with 73.48% in bank deposits serving as the primary liquidity buffer, 13.33% in short-term Sukuks for yield enhancement, 11.43% in banks and DFIs providing diversified credit exposure, and 1.76% in other instruments. The Plan exhibits strong credit quality discipline, anchored by 73.43% exposure to ‘AA+’ rated avenues, 22.90% in ‘AAA’ rated/Government securities, 1.90% in ‘A1’ rated instruments, and 1.77% across other categories, ensuring protection against default risk. With a Weighted Average Maturity (WAM) of 17 days, the Plan maintains a short maturity profile, minimizing credit rate sensitivity. Investor concentration remains comfortably low, with redemption pressure estimated at 24.34%, enhancing structural stability and liquidity resilience.
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 Company Limited, established in 2021, is licensed by the SECP to undertake asset management and investment advisory services. The major shareholder of the AMC is Pak Qatar Investment (Private) Limited, holding a 76% stake, followed by Pak Qatar Family Takaful Limited with 7%. Additionally, Mr. M. Kamran Saleem, representing Pak Qatar Investment (Private) Limited, holds a 10% stake, and Mr. Zahid Hussain holds 5%. Mr. Said Gul represents Pak Qatar Family Takaful Limited. The AMC’s Board consists of four members, including one representative from Pak Qatar Investment (Private) Limited, one representative from Pak Qatar Family Takaful Limited, and one independent director. The CEO, Mr. Farhan Shaukat, FCA, has been associated with the Pak Qatar Group for over a decade and holds a 1% stake. He previously led the Group’s Treasury Function. As of September, the Company reported AUM of PKR 65.67 billion.