ISLAMABAD (Feb 13, 2026): The Securities and Exchange Commission of Pakistan (SECP) has granted registration to First Digital Takaful Company Limited, making it the country’s first fully digital, Shariah-compliant general takaful operator.
The company, a wholly owned subsidiary of MedIQ Private Limited, will operate without physical branches and provide services entirely through digital platforms. The approval allows the operator to offer an end-to-end online process, including customer onboarding, contribution payments, digital certificate issuance and claims handling.
SECP said the move introduces a new digital operating model within Pakistan’s insurance and takaful sector, aimed at improving access and efficiency.
Focus on affordability and inclusion
Officials noted that digital-only operators typically benefit from lower operational and distribution costs. This structure is expected to support the development of affordable protection products and expand coverage to underserved segments of the population.
Dr. Saira Siddique, CEO of MedIQ Private Limited, said the registration represents an important step in modernizing takaful delivery through technology-driven solutions.
First Digital Takaful plans to introduce Shariah-compliant general protection products across various segments, including health, personal accident, motor, travel, device and asset coverage, as well as agriculture, livestock and income protection.
Supporting innovation in insurance
SECP stated that the approval aligns with its broader objective of encouraging technology-enabled innovation, transparency and seamless policyholder onboarding in Pakistan’s insurance industry.
Industry analysts say the entry of a digital-only takaful operator could stimulate competition, enhance consumer choice and accelerate the digital transformation of the insurance and takaful market in Pakistan.
