The Securities and Exchange Commission of Pakistan (SECP) organised a roundtable in Karachi on “The Future of Takaful in Pakistan” to gather market input on policy and regulatory measures aimed at increasing Takaful’s market share and supporting Shariah-compliant financial inclusion under the SECP’s ‘Insured Pakistan’ five-year strategic plan. The half-day session, led by the SECP Insurance Division under Commissioner Mujtaba Ahmed Lodhi, brought together Shariah advisors, international insurance brokers (AON and Guy Carpenter) and insurance industry representatives. Discussion focused on practical barriers and priorities for sector development, including limited re-Takaful capacity, issues around converting conventional insurance products, and the need for clearer guidelines to support a transition toward Shariah-compliant insurance in light of recent constitutional reforms. Participants also discussed innovation, strengthening industry capabilities and greater market collaboration, alongside insights on global reinsurance and re-Takaful trends and alignment with international best practices.
Securites & Exchange Commission of Pakistan 2025-10-16
Securities and Exchange Commission of Pakistan convenes roundtable to identify regulatory priorities for the Takaful sector
The Securities and Exchange Commission of Pakistan (SECP) held a roundtable in Karachi to discuss policy and regulatory measures for enhancing Takaful's market share and Shariah-compliant financial inclusion under its 'Insured Pakistan' strategic plan. Led by SECP's Insurance Division, the session addressed barriers like limited re-Takaful capacity and the need for clearer guidelines for transitioning to Shariah-compliant insurance. Participants also explored innovation, industry capabilities, and alignment with international best practices.