Meezan

Kafalah
program
Presenters:
Name: Sana Tunio
Roll: 2K20/ECO/129
Name: Sajjad Ali
Roll: 2K20/ECO/126
Name: Muhammad Mir Zia
Roll: 2K20/ECO/98
Name: Muhammad Waqas Pathan
Roll: 2K20/ECO/97
Table of contents

Introduction Profits
01 What is the program?
What does it offer?
02 Profits of the Bank from this
program
How it is provided? How much it has helped people?

Criticism
03 To what extent is this
Program Islamic?
 “Meezan Kafalah is a Takaful
Plan through which customers
can save their future plans such
as education, planning of old
age, Hajj etc.”
—Shariah Complaint guarantee
Prgram Features

Regular
Profit Sharing
Saving
Regular contributions The bank pays profits on
help them in accumulating accumulated contributions
funds
Feature
s
Flexibility and
Takeful Cover easy exit options
Protects against
unforeseen situations Planning is per the preferences of
such as financial loss the customer and the program can
be withdrawn anytime
Working of Kafalah Prgram

01 02 03 04

Customer Bank Invest Banks use funds Customers

deposits Money in in the share in the
Mudarabah Pool Mudarabah profits of
pool to provide Mudarabah
a guarantee pool in a pre-
agreed ratio the
 PKR 100
95%
billion
The total Takaful cover This program has 95% of the
provided by the program customer satisfaction rating
exceeds PKR 100 billion
 2,500 250,000 10 billion The bank has paid out
Average participant Average Takaful cover
contribution per participant PKR 10 billion in Takaful
claims to beneficiaries
Profit analysis
January-23
10.99 October-23
% 14.58%

March-23 August-23
13.52
11.51%
%
To what extent
Program is
Islamic?
Criticism on the program

Riba concerns
The profit earned by Profit motives
It may exploit the
the Takaful operator
vulnerabilities of
could be considered
participants
riba.
Criticis
m
Accessibility
The program's eligibility Other risk
criteria may exclude some management strategies
community-based mutual
individuals and families who
aid programs and
may benefit from its
government-sponsored
protection
social safety nets
 “Program’s use of Riba-based Financing
is haram and that it should be restructured
to avoid using Riba.”
—In 2018 article Mufti Tariq Usmani
 Thanks!
Do you have
any questions?

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