Takaful Pakistan Limited: Half Yearly Report - 30 June 2018

Transcription

1. TAKAFUL PAKISTAN LIMITED HALF YEARLY REPORT June 30 , 2018
2. Takaful Pakistan Limited Half Yearly Report June 2018 CONTENTS Corporation Information 03-05 Vision , Mission and Ambition 06 Management Team 07 Branches 08 Director’s Report Document Wise Financial Statements Document Wise 2
3. Takaful Pakistan Limited Half Yearly Report June 2018 CORPORATION INFORMATION Directors Mr . Salim Habib Godil (Chairman) Mr. Rizwan Hussain Mr. Ahmad Shuja Kidwai Mr. Ashraf Ali Velji Syed Salman Hussain Mr. Shahzad Salim Godil Syed Tariq Husain Managing Director & CEO Mr. Rizwan Hussain Chief Financial Officer Mr. Muhammad Irfan Company Secretary Ms. Naheed Shiraz Merchant Shariah Advisor Mufti Sajjad Ashraf Usmani Statutory Auditor KPMG Taseer Hadi & Co. Chartered Accountants Internal Auditor E.Y Ford Rhodes Chartered Accountants Legal Advisor Mohsin Tayebaly & Co (MTC) Corporate Advisor Head office RS Corporate Advisory 6th floor, Business Centre, Plot No 19-1-A, Block -6, P.E.C.H.S., Shahrah-e-Faisal, Karachi-75400, Pakistan. UAN : (021) 111-875-111 Tel : Fax : (+92-21) 34373195-6 E-mail : info@takaful.com.pk Website : www.takaful.com.pk (+92-21) 34373171-80 (10 Lines) 3
4. Takaful Pakistan Limited Half Yearly Report June 2018 Bankers Meezan Bank Limited Bank Islami Pakistan Limited Dubai Islamic Bank Limited Al Baraka Bank (Pakistan) Limited Habib Bank Limited (Islamic Banking Division) Faysal Bank Limited (Islamic Banking Division) Askari Bank Limited ( Islamic Banking Division) Bank AlFalah Limited (Islamic Banking Division) Habib Metropolitan Bank (Islamic Banking Division) National Bank of Pakistan (Islamic Banking Division) Bank of Khyber (Islamic Banking Division) UBL (Islamic Banking Division) NRSP Micro Finance Bank Limited (Islamic Banking Division) BOARD COMMITTEES Audit Committee 1. Chairman – Mr. Ashraf Ali Velji (Non-Executive Director) 2. Secretary – Ms. Varda Rehman (Head of Internal Audit) 3. Member – Mr. Shahzad Salim Godil (Non-Executive Director) 4. Member – Syed Salman Hussain (Non-Executive Director) 5. Member – Mr. Salim Habib Godil (Non-Executive Director) 6. Member – Mr. Ahmed Shuja Kidwai (Non-Executive Director) Ethics, Human Resource & Remuneration Committee 1. Chairman – Mr. Salim Habib Godil (Non-Executive Director) 2. Secretary – Mr. Noman Zaidi (Head of Human Resources) 3. Member – Mr. Rizwan Hussain (Managing Director & CEO) 4. Member – Mr. Shahzad Salim Godil (Non-Executive Director) 5. Member – Mr. Salman Hussain (Non-Executive Director) Investment Committee 1. Chairman – Syed Salman Hussain (Non-Executive Director) 2. Member & Secretary – Mr. Muhammad Irfan (Chief Financial Officer) 3. Member – Mr. Ashraf Ali Velji (Non – Executive Director) 4. Member – Mr. Rizwan Hussain (Managing Director & CEO) 5. Member – Mr. Salim Habib Godil (Non-Executive Director) 6. Member – Mr. Shahzad Salim Godil (Non-Executive Director) 4
5. Takaful Pakistan Limited Half Yearly Report June 2018 MANAGEMENT COMMITTEES Underwriting and Retakaful & Co-takaful Committee: 1. Chairman – Mr. Rizwan Hussain (Managing Director & CEO) 2. Member & Secretary – Mr. Umair Ismail (Senior Vice President Operations – Non Motor) 3. Member – Mr. Kamran Hanif (Senior Vice President Operations – Motor) 4. Member- Mr. Muhammad Irfan (Chief Financial Officer) Benefit (Claim) Settlement Committee: 1. Chairman – Mr. Rizwan Hussain (Managing Director & CEO) 2. Member & Secretary – Mr. Faheem Darss (Head of Claims-South Region) 3. Member- Dr. Afshan Masood (DM Health Benefits) 4. Member - Mr. Jibran Khan (DM Non-Motor Benefits) Risk Management & Compliance Committee: 1. Chairman – Mr. Rizwan Hussain (Managing Director & CEO) 2. Member & Secretary- Ms. Naheed Shiraz Merchant (Head of Legal, Compliance & Company Secretary) 3. Member – Mr. Umair Ismail (Senior Vice President Operations – Non Motor) 4. Member- Mr. Muhammad Irfan ( Chief Financial Officer) 5. Member – Mr. Kamran Hanif (Senior Vice President Operations – Motor) 5
6. Takaful Pakistan Limited Half Yearly Report June 2018 OUR VISION To spread Takaful benefits beyond borders , beyond Time! OUR MISSION • To deliver Takaful as a viable alternative to conventional insurance. • To become the ‘top-of-the-mind’ Takaful brand for our Participants in terms of competitiveness, service standards and business ethics • To give value for money to our shareholders and make Takaful Pakistan their prized asset. • To become an ideal organization for our employees that encourages them to achieve self-actualization and growth. • To contribute positively and proactively for the welfare of our society at large as well as for the preservation of our environment. OUR AMBITION To be a role model for the contemporary insurance industry and eventually bring it in conformity with the Shariah compliant Takaful mode of insurance. 6
7. Takaful Pakistan Limited Half Yearly Report June 2018 MANAGEMENT TEAM Mr . Rizwan Hussain MBA & Certified Director (PICG) Managing Director & CEO Mr. Muhammad Irfan FCMA Chief Financial Officer Ms. Naheed Shiraz Merchant LLM from University of London Head of Legal, Compliance & Company Secretary Mr. Kamran M. Hanif ACII – Chartered Insurer Senior Vice President Operations (Motor) Mr. Umair Ismail BBA (Hons.) Senior Vice President, Head of Operations (Non Motor) Mr. Noman Zaidi MA HR (UK), MCIPD (UK) Head of HR and Administration Mufti Sajjad Ashraf Usmani Takhassus Fil Ifta, MPHIL Shariah Advisor Ms. Varda Rehman ACCA Head of Internal Audit 7
8. Takaful Pakistan Limited Half Yearly Report June 2018 BRANCHES / OFFICES Branch Branch Address Karachi 6th floor, Business Centre, Plot No 19-1-A, Block -6, P.E.C.H.S., Shahrah-e-Faisal, Karachi. UAN: (021) 111-875-111 Fax: (021) 34373195-6 Lahore Al-Hafeez Heights Floor No. 12, Office No 1216, 65D/1, Ghalib Road, Lahore. UAN: (042) 111-875-111 Fax: (042) 35716790 Peshawar 6th Floor, State Life Building, 34-The Mall, Peshawar Cantt, Peshawar. UAN: (091) 111-875-111 Fax: (091) 5260107 Faisalabad Office # 3, 2nd floor, Wahab Centre, Main Susan Road, Faislabad. UAN: (041) 111-875-111 Fax: (041) 8720063 8
11. KPMG Taseer Hadi & Co. Chartered Accountants Takaful Pakistan Limited Condensed Interim Financial Information (Unaudited) For the six months period ended 30 June 2018
40. 33 DATE OF AUTHORIZATION FOR ISSUE 19 AVO 2018 These condensed interim financial Information were approved by the board of directors in the meeting held on authorized for issue . and 34 GENERAL 34.1 Figures have been rounded off to the nearest thousands. 34.2 Figures in these condensed interim financial statements for the quarters ended 30 June 2018 and 30 June 2017 have not been subjected to limited scope review of the auditors. 34.3 Corresponding figures have been rearranged and reclassifed wherever necessary in line with the requirements of the Rules and Accounting Regulations 2017 (refer note 5.2.3) L... Director L r I I Chief executive OffIcer