Pakistan Kuwait Investment Company (Private) Limited is a leading Financial Institution engaged in investment and development banking activities in Pakistan. Pak Kuwait is a 50:50 joint venture between the Governments of Pakistan and Kuwait and was established in 1979 with a paid-up capital of Rs. 250 million contributed equally by the two joint venture partners and over the years paid-up capital has increased manifold and currently stands at Rs. 6 billion.

Pak Kuwait is the highest capitalized Development Financial Institution operating in the country with a net worth in excess of Rs. 11 billion. It is a progressive organization that provides attractive return on investment to its shareholders. This is also evident by its impressive history of dividend payouts, which amounted to Rs. 9.232 billion since the time of its inception. The company’s strength lies in its strong business relationships within Pakistan and Gulf region.

In the rapidly changing business environment the company has not confined its operations to the traditional development financial institution function, but has also sponsored/co-sponsored several companies to enhance economic activity in the country as well as diversified its business operations:

• Meezan Bank Limited: Pakistan’s first and premier Islamic Commercial Bank.

• Pak-Kuwait Takaful Insurance Company Limited: Incorporated in September 2003, to carry out the business of Islamic Insurance.

• Al-Meezan Investment Management Limited: An advisory company, which has floated a close end Fund of Rs. 250 million and an open end Fund in the name of Meezan Islamic Fund.

• Plexus: A joint venture between Pak Kuwait and Meezan Bank, under the technical collaboration with World Site of Canada, it aims to target the local and international IT market for its services.

• Faysal Management Services (Private) Limited: This has set up Fayzan Manufacturing Modarba on behalf of ICI Pakistan Limited.

By the grace of Allah (SWT), for the last seven consecutive years M/s. JCR-VIS an affiliate of Japanese Credit Rating Company has awarded a long-term credit rating of “AAA” (triple A) and a short-term credit rating of A1+ (A One Plus) to Pak Kuwait. Besides, Pakistan’s only second credit rating company, the Pakistan Credit Rating Agency (PACRA) has also assigned the “AAA” and A1+ credit rating to Pak Kuwait for the fourth consecutive year. These ratings denote the lowest expectation of credit risk and strong capacity for timely payment of financial commitments. By virtue of obtaining second credit rating Pak Kuwait is the first and only financial institution in Pakistan, which has secured highest level of credit rating by two independent and approved credit rating companies operating in the country.

In May 2004, Pak Kuwait has been assigned a Corporate Governance Rating of CGR-9 by JCR-VIS. The rating is based on a scale ranging from CGR-1 (Lowest) to CGR-10 (Highest), CGR-9 is the maximum rating for a Private Limited Company. The assigned rating denotes “a high level of Corporate Governance.” The rating represents a major milestone as it is the first such rating in Pakistan. The rating assigned to Pak Kuwait is a positive reflection of the conscious effort on the part of the Board of Directors and executive management towards developing a corporate culture based on three cornerstones of good governance i.e. transparency, accountability and fair-play.

In strive for excellence and enduring to the international quality standards. Pak-Kuwait has offered itself for ISO 9001:2000 audit for the first time in November 2003. Moody International, a reputed international firm in quality assurance, inspection & technical services have carried out an intensive audit for Pak Kuwait systems and procedures and based on their evaluation awarded ISO 9001:2000 certificate in December 2003. The company underwent for the second audit of its kind in November 2004 and Moody has reaffirmed the ISO certificate to Pak Kuwait in December 2004 for the second consecutive year. Achievement of this award represents the concerted effort of the management and employees of the company for their commitment to adherence to the high standards of systems, policies and procedures in all functional areas of the company.  This award represents accreditation by UKAS Quality Management of United Kingdom, Moody International Certification and by Pakistan National Accreditation Council.

Five Years Financial Highlights

The driving force behind Pak Kuwait’s success has been its organizational structure, professional excellence of management, sincerity of its leadership and keen participation of the Board of Directors in the company matters. The Government of Pakistan and the Government of Kuwait has also provided its full support and cooperation from the inception to-date, which is the main source of strength for the management to operate the company professionally on sound grounds.