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

Pak Qatar Daily Dividend Plan (the "Plan"), operating under Pak Qatar Islamic Cash Fund, is a low-risk Shariah-compliant money market solution designed to provide investors with daily income distribution while preserving capital through high-quality Islamic money market instruments. The Plan's conservative duration profile and strict adherence to Islamic principles make it particularly suitable for investors seeking Shariah-compliant liquidity with regular cash flows. As of September 2025, the Plan reported Assets Under Management (AUM) of PKR 1,332.15 million, affirming its relevance within the Islamic money marekt space. The Plan maintains a highly liquid and strategically diversified asset class, with 61.49% in bank deposits (core liquidity buffer), 14.90% in short-term Sukuks and DFIs (yield optimization), 7.46% in GoP Ijara Sukuks (sovereign credit anchor), and 16.15% in other Shariah-compliant holdings. The credit profile demonstrates disciplined investment-grade positioning, featuring 61.49% ‘AA+’ rated exposure, 31.31% in sovereign/‘AAA’ rated instruments, 4.10% in ‘AA’/‘A1’ rated avenues, 1.86% in ‘A+’ rated instruments, and 1.24% in other compliant categories. With a Weighted Average Maturity (WAM) of 30 days, the Plan carries minimal credit rate risk, supported by rapid asset turnover and deep liquidity buffers. The top ten unit holders account for 41.32% of AUM, indicating moderate redemption sensitivity; however, the Plan’s substantial liquidity cushion and short duration provide strong resilience against redemption-driven pressures.
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.