Pakistani Shariah-Compliant Insurer plans $3.9m IPO

October 17, 2025 (MLN): A Pakistani Shariah-compliant insurance firm, backed by Qatari investors, is gearing up to launch its initial public offering (IPO) next month, seeking to raise approximately $3.9 million, Bloomberg reported.

Pak-Qatar Family Takaful Ltd. will offer 50 million shares at up to Rs21 a share through book building, said Shahid Ali Habib, Chief Executive Officer at Arif Habib Ltd., lead manager and book runner to the transaction, in an interview.

Firms are seeking to raise funds at the bourse that has rallied 42% this year as Pakistan’s economy stabilizes on the back of the International Monetary Fund’s $7 billion loan program. The global lender reached an initial agreement on Thursday for the release of the next installment of the loan.

The funds will be used to meet the minimum capital requirement, expand digital channels and support the development of customer-centric products, Habib said.

The company is backed by leading Qatari institutional investors including Qatar Islamic Insurance Co. and Qatar International Islamic Bank, according to its website.

The move came as Pakistan’s stock market continues its record-breaking rally, driven by improved economic sentiment, declining inflation, and stable political conditions.

The benchmark index has recently surged to all-time highs, attracting growing interest from foreign investors eyeing opportunities in emerging markets.

The timing aligns with heightened global attention on Islamic finance and its potential intersections with digital assets.

The upcoming IPO, backed by Qatari investors, may also pave the way for greater Gulf-region participation in Pakistan’s capital markets, reinforcing cross-border financial linkages.

If successful, it could encourage similar Shariah-compliant listings and deepen the connection between traditional finance and emerging digital asset ecosystems.

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