Q1. What is Muhafiz?
Muhafiz is a unique Takaful arrangement, specifically designed by Pak-Qatar General Takaful Limited. It provides coverage against loss of cash resulting from armed hold-up and/or violent and forced deprivation of money subsequent to its withdrawals. Cash should be withdrawn by the Customer themselves through any 1-Link ATM machine or Over-the-Counter from any Standard Chartered Bank branches in Pakistan. Coverage is limited to a 1.5 Kilometres radius or 60 minutes of the withdrawal, whichever occurs first.
Q2. Why is the coverage limited to 1.5 kilometre radius or one hour whichever occurs first, subsequent to cash withdrawal?
This time is kept as a reasonable buffer for you to reach your destination from the time of withdrawal.
Q3. Am I eligible for Muhafiz Cash Cover?
All account holders of Standard Chartered Bank (Pakistan) Limited aged between 18 – 60 years are eligible to enrol for this product.
Q4. How much do I need to pay to avail this coverage?
You can avail this coverage upon payment of Rs. 1,500/- for the full twelve (12) months period. This amount shall be debited directly from your Standard Chartered account annually and you do not need to fill out any new forms for re-enrolment.
Q5. How can I avail this takaful coverage?
Enrolment for this coverage can be made at the time of account opening at Standard Chartered. Existing customers can enrol for this coverage by simply calling our contact centre at 111-002-002.
Q6. What is the expected time for settlement of my claim?
The expected time for settlement of claim is up to fifteen (15) business days subject to the condition that all the requisite documents have been submitted to the Takaful company and all terms and conditions have been complied with
Q7. How can I cancel this coverage?
The Customer can deactivate / cancel the coverage any time by calling at Standard Chartered Phone Banking Unit at 111-002-002 or by providing the Bank with a written statement to this effect. Full contribution amount can be claimed if the Customer cancels the coverage within fifteen (15) days from the date of enrolment and has paid the contribution. No return of Contribution shall be applicable if:
- Cancellation has been requested after 15 days of enrolment
- A claim under the product coverage has been has been lodged by the customer
- You will automatically be de-enrolled from the product upon attaining 60 years of age.
Q8. Who is the Underwriter of this takaful cover?
This product is underwritten by Pak-Qatar General Takaful Limited.
Q9. What if someone else uses my Visa Debit Card or Cheque book?
The coverage is only applicable to the account holder(s) and shall be effective if the Visa Debit Card / Cheque book is used by the person to whom the card / chequebook belongs.
Q10. Who do I contact in case of claims?
In case of claims, please contact the
Manager Claims,
Pak-Qatar General,
Address: Suite# 402-403, Business Arcade, Block-6,
P.E.C.H.S, Shahrah-e-Faisal, Karachi P.O Box # 75400
Phone: (92 21) 34380357-61, Fax: (92 21) 34326107, 34386453
Email: claims@pakqatar.com.pk
Website: www.pakqatar.com.pk
In case you have also been robbed of your debit card, please notify the bank immediately at 111-002-002 to block your card.
Brief info on Pak-Qatar:
Pak-Qatar General Takaful Ltd. is a dedicated provider of General Takaful, is a technology-driven Shari’ah compliant company providing cost-effective Takaful solutions to individuals and corporations in Pakistan since 2007
