Pakistani Shariah-compliant firm crosses $350 million in investor funds within six months

Pakistani Shariah-compliant firm crosses $350 million in investor funds within six months
An undated image of logo of Lucky Investments taken from its website.
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Updated 5 min 41 sec ago

Pakistani Shariah-compliant firm crosses $350 million in investor funds within six months

Pakistani Shariah-compliant firm crosses $350 million in investor funds within six months
  • Lucky Investment Ltd. focuses on investment and portfolio management across energy, real estate, manufacturing sectors
  • Firm remains committed to delivering world-class, Riba-free investment solutions, anchored in trust, says CEO Lucky Investments

KARACHI: Pakistani Shariah-compliant Lucky Investments Limited announced on Monday it has crossed the Rs100 billion [$350 million] mark in Assets Under Management (AUM) within only six months of launching its fund, making it the first assets management company firm to achieve the feat. 

Lucky Investments, a subsidiary of Pakistan’s Lucky Group, focuses on investment and portfolio management across sectors like energy, real estate and manufacturing. Originally known as Interloop Asset Management Limited, the company was acquired by Yunus Brothers Group in December 2024 and rebranded as Lucky Investments Limited.

AUM is the total market value of all the assets that a financial institution, such as a mutual fund or investment adviser, manages on behalf of its clients. In its statement, Lucky Investments said the company has received overwhelming response since its inception from both institutional and retail investors across the country.

“With their trust, we’ve reached PKR 100 Billion AUMs — a milestone that aligns with our vision of becoming the premier choice for Shariah-compliant investments,” Lucky Investments CEO Mohammad Shoaib said in a statement.

In April, the firm said it had successfully raised Rs50 billion ($170 million) during the Initial Public Offering (IPO) of its debut fund, the Lucky Islamic Money Market Fund, the largest ever mutual fund launch in Pakistan. 

“We remain committed to delivering world-class, Riba-free investment solutions, anchored in service excellence, transparency and trust,” Lucky Investments said in its press release. 

Lucky Investments said it was also planning to launch a Voluntary Pension Schemes to boost retail investor participation in retirement savings and is also coordinating with the government for a separate fund for its employees.

Lucky Investments’ achievement reflects the growing traction that Shariah-compliant investments are gaining in Pakistan, as investors seek ethical and faith-based financial solutions. 

Supported by a growing Islamic finance sector and regulatory backing from Pakistan’s Securities and Exchange Commission and the State Bank, the market continues to expand through mutual funds, sukuk and Islamic banking products.


De Kock comes out of ODI retirement for South Africa tour of Pakistan

De Kock comes out of ODI retirement for South Africa tour of Pakistan
Updated 24 sec ago

De Kock comes out of ODI retirement for South Africa tour of Pakistan

De Kock comes out of ODI retirement for South Africa tour of Pakistan
  • De Kock quit ODIs after 2023 World Cup, leaving him to play only in T20 format
  • Pakistan will host South Africa for a multi-format tour in October this year

OHANNESBURG, South Africa: Quinton de Kock has reversed his retirement from one-day international cricket and was included Monday in South Africa’s squad for upcoming matches against Pakistan in the format.

De Kock quit ODIs after the Cricket World Cup in 2023, leaving him to play only in the Twenty20 format having already retired from test cricket in 2021.

Two years later, the 32-year-old opener is set for an ODI return in a three-match series against Pakistan that is part of the Proteas’ tour also containing two test matches and three T20s.

De Kock was also named in the T20 squad. He hasn’t played for his country in that format since the T20 World Cup final in June last year.

South Africa test captain Temba Bavuma wasn’t selected as he recovers from a calf strain so Aiden Markram will lead the team for the test matches in Lahore and Rawalpindi starting Oct. 12.

South Africa will host the 50-over Cricket World Cup in 2027, perhaps a reason for De Kock’s return to the ODI format.


Just not cricket: how India-Pakistan tensions spill onto the pitch

Just not cricket: how India-Pakistan tensions spill onto the pitch
Updated 11 min 12 sec ago

Just not cricket: how India-Pakistan tensions spill onto the pitch

Just not cricket: how India-Pakistan tensions spill onto the pitch
  • Asia Cup tournament marks first meeting of cricket giants since their armies clashed in May this year
  • Cricketers from both countries exchanged heated words during latest India-Pakistan Super Four contest

NEW DELHI, India: India and Pakistan’s refusal to shake hands during their Asia Cup cricket matches bent the code of the so-called “gentleman’s game,” as sport once again served as a proxy battlefield.

The tournament marks the first meeting between the nuclear-armed neighbors since their armies clashed in May — a four-day exchange of artillery, drones and missiles that killed more than 70 people.

The sporting rivals do not play bilateral matches, meeting only at neutral venues during international tournaments.

The handshake snub is the latest example of how cricket mirrors politics between the two countries.

EYES DOWN

The cricket-mad neighbors have already met twice in the Asia Cup T20 tournament this month, played in the United Arab Emirates as a neutral venue.

On September 14, India captain Suryakumar Yadav said his refusal to shake hands with his Pakistani counterpart was “aligned with the government” — a move Pakistan said had “disappointed” them.

When they met again on September 21, neither side offered the traditional handshake. Both skippers kept their eyes and hands down after the toss.

The hostility did not stop there. Pakistan’s Sahibzada Farhan celebrated his half-century by using his bat like a gun, while his teammate Haris Rauf taunted the crowd by seemingly mimicking a plane crashing, an apparent reference to the Indian fighter jets that Pakistan said they shot down in May.

India won both games.

If both sides progress, they may meet in the September 28 final — and again in October when India co-hosts the Women’s World Cup, with that game played in Sri Lanka.

‘CRICKET FOR PEACE’

A love of cricket is one thing the two sides can agree on.

In 1987, Pakistan’s then military ruler Ziaul Haq stunned India with a surprise visit to a Test match in Jaipur.

The hastily arranged trip, dubbed “cricket for peace,” helped defuse a tense border standoff and saw Zia charm both fans and Indian prime minister Rajiv Gandhi.

In 2005, a match in New Delhi brought Pakistan’s then president Pervez Musharraf face-to-face with Indian leader Manmohan Singh.

PITCH GARDENING

In 1991, spade-wielding activists from India’s Hindu right-wing Shiv Sena party dug up the pitch at Mumbai’s Wankhede Stadium to prevent Pakistan’s cricket tour.

The scheduled one-day series was canceled.

Security fears forced Pakistan to call off two more tours in 1993 and 1994 before returning for the 1996 World Cup.

In 1999, Shiv Sena struck again, damaging the pitch at New Delhi’s Feroz Shah Kotla stadium ahead of a Test match, but authorities repaired it in time.

FANS EVICTED

A 1999 Test in Kolkata’s Eden Gardens descended into chaos after India’s Sachin Tendulkar was controversially run out following a collision with Pakistan’s Shoaib Akhtar.

Crowds erupted, chanting “cheat, cheat” and hurled water bottles at Akhtar, forcing officials to halt play.

Tendulkar’s pleas failed to calm the stands, thousands of fans were evicted, and Pakistan sealed victory in front of empty stands.

PAKISTAN BAN

Pakistani stars were a major draw in the Indian Premier League’s 2008 debut season, with Sohail Tanvir topping the wicket charts.

But after the Mumbai terror attacks that same year, carried out by Pakistan-based militants, Indian authorities barred players from across the border.

The ban remains in place, depriving Pakistan cricketers of the chance to play in the world’s most lucrative T20 league.


Pakistan dispatches 23rd aid consignment for Gaza as Israel’s war rages on

Pakistan dispatches 23rd aid consignment for Gaza as Israel’s war rages on
Updated 46 min 27 sec ago

Pakistan dispatches 23rd aid consignment for Gaza as Israel’s war rages on

Pakistan dispatches 23rd aid consignment for Gaza as Israel’s war rages on
  • Consignment weighing 100 tons contains flour, rice, sweet corn, cooking oil, ready-to-eat meals
  • Pakistan has sent 2,227 tons of relief items in total to Gaza amid fears of starvation in territory

ISLAMABAD: Pakistan dispatched its 23rd consignment of relief items for Gaza on Monday, the National Disaster Management Authority (NDMA) said in a statement, as Israel continues to bombard the densely populated territory despite ceasefire calls from the world. 

The consignment weighing 100 tons was sent by the NDMA in collaboration with Pakistani charity organization Alkhidmat Foundation. It was dispatched via a special flight from Lahore’s Allama Iqbal International Airport to Gaza via Egypt, the NDMA said. 

“This marks Pakistan’s 23rd aid consignment, totaling 2227 tons for Gaza,” the NDMA said. 

It added that the relief consignment included flour, rice, sweet corn, ready-to-eat meals, cooking oil and fruit cocktails. Government officials, including those from the NDMA and Punjab Governor Sardar Saleem Haider, were present at the send-off ceremony.

Pakistan sent the latest consignment amid fears of starvation in Gaza, as Israel continues with its military operations in the territory. The Integrated Food Security Phase Classification, a global hunger monitor, warned last month that northern Gaza is suffering from famine. The hunger monitor said the famine is projected to spread to central and southern areas of the territory by the end of September.

Pakistan does not recognize nor have diplomatic relations with Israel. Islamabad has consistently called for the establishment of an independent Palestinian state based on “internationally agreed parameters” and the pre-1967 borders, with Al-Quds Al-Sharif as its capital.

Since the beginning of Israel’s war on Gaza in October 2023, Pakistan has repeatedly flagged the bombardment in Gaza at multilateral forums such as the United Nations and the Organization of Islamic Cooperation. Islamabad has also been pushing the international community to force Israel to allow uninterrupted access to humanitarian supplies in the area. 

Israel’s military campaign has killed more than 65,000 Palestinians in Gaza, most of them civilians, since October 2023, as per figures from the Gaza Health Ministry.


Pakistan PM directs ministers to identify feasible projects for foreign investment

Pakistan PM directs ministers to identify feasible projects for foreign investment
Updated 22 September 2025

Pakistan PM directs ministers to identify feasible projects for foreign investment

Pakistan PM directs ministers to identify feasible projects for foreign investment
  • Shehbaz Sharif identifies agriculture, IT, minerals, tourism and renewable energy as key sectors for foreign investment
  • Private sector will play a key role in the roadmap for country’s economic activities, says Sharif in high-level meeting 

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday directed federal ministers to identify feasible projects for foreign investment in priority sectors, his office said in a statement, amid Pakistan’s push to attract investment to ward off its macroeconomic crisis. 

Pakistan’s government has sought closer trade and economic relations with regional allies, Gulf countries and Central Asian Republics in recent years to bolster foreign trade and investment. Islamabad formed the Special Investment Facilitation Council (SIFC), a government body comprising senior civilian and military officials, in 2023 to fast-track decisions related to investment in minerals, agriculture, tourism, IT, livestock and other sectors. 
 
The Pakistani prime minister, who is due to travel to New York today to take part in the United Nations General Assembly, chaired a meeting of senior ministers and officials in London on enhancing investment, economic, and trade activity in Pakistan. 

“The prime minister directed all ministers to immediately identify feasible projects and take steps to turn them into actionable initiatives,” the Prime Minister’s Office (PMO) said in a statement. 

It added that Sharif directed the ministers to chalk out a roadmap and transformation agenda with a “forward-looking approach” to achieve the goals. Sharif said targets have been assigned to ministries, who have been instructed to utilize all available resources to ensure the timely completion of ongoing projects. 

“Agriculture, IT, minerals, tourism, and renewable energy are key sectors that can attract foreign investment,” Sharif was quoted as saying by his office. “Along with investment, promoting trade is also a core part of our policy, so that our exports can see significant growth.”

The prime minister stressed Pakistan’s private sector will play a key role in the roadmap for the country’s economic activities, saying that their participation will be ensured. 

Sharif has frequently said his government seeks to establish trade relations and “mutually beneficial partnerships” with countries and does not seek loan from them only. Pakistan has pushed for sustainable economic growth, driven by exports and long-term financial reforms, after it came to the brink of a sovereign default in 2023. 

An International Monetary Fund (IMF) financial bailout package saved Pakistan from the default, prompting authorities to push for economic growth as the country struggles to make economic gains.


Blast at militant compound in northwest Pakistan kills 24, police say

Blast at militant compound in northwest Pakistan kills 24, police say
Updated 22 September 2025

Blast at militant compound in northwest Pakistan kills 24, police say

Blast at militant compound in northwest Pakistan kills 24, police say
  • Blast occurred in Tirah Valley of Khyber Pakhtunkhwa province, destroying several nearby homes
  • Police say compound was being used by Pakistani Taliban as factory for producing roadside bombs

PESHAWAR, Pakistan: Bomb-making material allegedly stored at a compound by Pakistani Taliban fighters exploded on Monday in the country’s restive northwest, killing at least 24 people, including militants and civilians, police said.

The blast occurred in the Tirah Valley of Khyber Pakhtunkhwa province and destroyed several nearby homes.

Local police officer Zafar Khan said at least 10 civilians, including women and children, were killed, along with at least 14 militants.

Khan alleged that two local Pakistani Taliban commanders, Aman Gul and Masood Khan, had established hideouts in the compound, which was being used as a factory for producing roadside bombs. He accused the militants of using civilians as human shields and said they had recently stored weapons in mosques in other districts.

Pakistan’s security forces are carrying out operations against the Pakistani Taliban in Khyber, Bajaur and other parts of the northwest.

Pakistan has seen a surge in militant attacks, most claimed by the Pakistani Taliban, known as Tehreek-e-Taliban Pakistan or TTP.