Karachi—Chairman & Chief Executive Officer/Managing Director House Building Finance Corporation is appointed as Director to the Board of Takafu! Pakistan Ltd.

Takaful Pakistan Limited was incorporated in June, 2006 with an authorized capital of Rs. 300 mi11ion, all fully paid-up. The Company is sponsored by reputable financial institutions both local and foreign, duly managed by a team of qualified and experienced professionals and supervised by a distinguished Shariah Advisory Board of international repute; House Building Finance Corporation Limited is one of the main sponsors of Takaful Pakistan Limited. The company has the capacity to underwrite risks in all avenues of General Insurance namely, Property (Fire & Engineering), Marine, Motor, Liabilities, bonds & guarantees etc.

In addition, the Company has the expertise and arrangements with overseas Takaful operators enabling it to offer comprehensive coverage for large infra-structure projects, specialized risks and umbrella/blanket covers specifically tailored for Islamic banking operations as well as for large corporate groups. The Company currently operates with a network of branches in seven major cities in the country.