Magazine date:
Nov 2019 
The Securities and Exchange Commission of Pakistan (SECP) has approved the accounting system governing Takaful insurance [4].
An adaptation of the IFRS standard to shariah-compliant insurance is among the newly adopted texts. In 2005, the first Takaful company began operations in Pakistan.
In 2012, the authorities introduced a series of measures allowing conventional insurers to also engage in this new activity. In September 2018, an Islamic reinsurance company was authorized to operate in the country.