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EMPLOYEE HANDBOOK PAK-QATAR FAMILY TAKAFUL LIMITED & PAK-QATAR GENERAL TAKAFUL LIMITED 101-105 &401-404 Business Arcade, Block-6, P.E.C.H.S., Shara-e-Faisal, Karachi –75400. Phone: 021-34311747, 021-34380357, Fax: 021-34386451 URL: www.pakqatar.com.pk

E M P L O Y E E

H A N D B O O K 0


Prepared By

Human Resources Department

Documentation Type: Employee Handbook

Reviewed By

EMPLOYEE HANDBOOK

M. Kamran Saleem Head of Human Resources

Version No.: 1.0

Date of Release: January 1, 2013

No. of Pages (including cover page) 54

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TABLE OF CONTENTS

Section

: 1....................................................................................................................................... 6

Introduction to Pak-Qatar Family & General Takaful ................................................................ 6 Section

: 2......................................................................................................................................... 9

Pak-Qatar Vision .............................................................................................................................. 9 Section

: 3..................................................................................................................................... 10

Pak-Qatar Mission& Core Value.................................................................................................. 10 Section

: 4..................................................................................................................................... 11

Statement of Code of Ethics &Operational Practices ............................................................... 11 Section

: 5..................................................................................................................................... 13

Pak-QatarPhilosophy ................................................................................................................... 13 Section

: 6..................................................................................................................................... 14

Logo Rationale ................................................................................................................................ 14 Section

: 7..................................................................................................................................... 15

Takaful – An Introduction ............................................................................................................ 15 Reference of Takaful in Holy Quran &Sunnah ...................................................................... 15 Type of Takaful .......................................................................................................................... 15 General Takaful .......................................................................................................................... 16 Family Takaful or Life Takaful................................................................................................. 16 The Modus Operandi of Takaful ............................................................................................. 16 The Role of the Company in Takaful System ......................................................................... 17 Income of the Waqf Pool ........................................................................................................... 17 Expenses of the Waqf Pool........................................................................................................ 17 Section

: 8..................................................................................................................................... 18

Our Business Functions ................................................................................................................. 18 Takaful Distribution (Individual and Corporate) ................................................................. 18 Operations ................................................................................................................................... 18 Shari‟ah Audit & Compliance .................................................................................................. 19 Finance & Accounts and Corporate Compliance .................................................................. 19 Human Resources ...................................................................................................................... 19 Information Technology & Systems ........................................................................................ 20 Training ....................................................................................................................................... 20

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Marketing .................................................................................................................................... 20 Administration ........................................................................................................................... 20 Internal Audit ............................................................................................................................. 20 Section

: 9..................................................................................................................................... 22

Group Hierarchy ............................................................................................................................ 22 Section

: 10................................................................................................................................... 24

Definition of Employee Status...................................................................................................... 24 Employees: ...................................................................................................................................... 24 Permanent Employee: ................................................................................................................... 24 Probationary Employee:................................................................................................................ 24 Temporary Employee: ................................................................................................................... 24 Contract Employee: ....................................................................................................................... 24 Management Trainee: .................................................................................................................... 24 Trainee Officer: ............................................................................................................................... 25 Section

: 11................................................................................................................................... 26

Appointment & Termination........................................................................................................ 26 Recruiting Job Applicants: ........................................................................................................ 26 Screening and Checking of References: .................................................................................. 26 Pre-placement Medical Examination: ..................................................................................... 26 Offer Letter, Appointment Letter, and GeneralConfidentiality Undertaking:.................. 27 Orientation: ................................................................................................................................. 27 Job Description: .......................................................................................................................... 28 Probation: .................................................................................................................................... 28 Confirmation:.............................................................................................................................. 28 Hiring of Relatives: .................................................................................................................... 28 Termination/Retirement:.......................................................................................................... 29 Exit Interviews: ........................................................................................................................... 29 Employee Record Retention: .................................................................................................... 30 Section

: 12................................................................................................................................... 31

Time Management & General Discipline ................................................................................... 31 Working Hours: .......................................................................................................................... 31 Late Arrivals: .............................................................................................................................. 31 Late Arrivals and Early Departures: ....................................................................................... 31 Forgetting to Mark Attendance: ............................................................................................... 31

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Lunch & Prayer Timing:............................................................................................................ 32 Dress Code: ................................................................................................................................. 32 Employee Fair Treatment:......................................................................................................... 32 Employee Discipline Policy: ..................................................................................................... 32 Employee Feedback System: .................................................................................................... 33 Safety & Security: ....................................................................................................................... 34 Section

: 13................................................................................................................................... 35

Total Rewards ................................................................................................................................. 35 Salaries: ........................................................................................................................................ 35 Advance against Salary: ............................................................................................................ 35 Provident Fund:.......................................................................................................................... 35 Loan against Provident Fund: .................................................................................................. 35 Employee Advance: ................................................................................................................... 36 Medical Policy ............................................................................................................................ 36 Life Takaful Coverage: .............................................................................................................. 36 Car Policy: ................................................................................................................................... 36 Fuel Policy: .................................................................................................................................. 37 Mobile Allowance Policy: ......................................................................................................... 37 Leaves Benefits Policy: .............................................................................................................. 37 Public Holidays: ......................................................................................................................... 38 Traveling Policy:......................................................................................................................... 38 Transport Allowance Policy: .................................................................................................... 38 Overtime Policy: ......................................................................................................................... 39 Cafeteria: ..................................................................................................................................... 39 Laptop Policy: ............................................................................................................................. 39 Employee Wellness Programs: ................................................................................................. 39 Employee Award Policy: .......................................................................................................... 40 In-houseMedical Consultation Facility: .................................................................................. 40 Employeesâ€&#x; Old-age Benefits Policy: ....................................................................................... 40 Communication Facilities: ........................................................................................................ 41 Section

: 14................................................................................................................................... 42

Performance& Strategic Management ........................................................................................ 42 Performance Appraisal:............................................................................................................. 42 Employee Career Opportunities and Succession Policy: ..................................................... 42

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Section

: 15................................................................................................................................... 43

Employee Training/Education & Organizational Development............................................ 43 Professional Development Policy: ........................................................................................... 43 Employee Education Policy: ..................................................................................................... 43 Section

: 16................................................................................................................................... 45

Frequently Asked Questions ........................................................................................................ 45 Recruitment & Onboarding ...................................................................................................... 45 Confirmation of Employment .................................................................................................. 48 Time & Leave Management...................................................................................................... 49 Compensation &Benefits........................................................................................................... 50 Provident Fund, Loans & Advances ....................................................................................... 52 Training &Organizational Development ................................................................................ 54

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Section

: 1

Topic

: Introduction to Pak-Qatar Family & General Takaful

Our Group consists of the two Takaful companies which are as follows: 1. Pak-Qatar Family Takaful Limited 2. Pak-Qatar General Takaful Limited Amongst the pioneers of Takaful in Pakistan, Pak-Qatar Family Takaful Limited &PakQatar GeneralTakaful Limited – a progressive and technology-driven Shari‟ah compliantGroup of Companies, today has presence in all major cities of Pakistan and is expanding its branch network for Individual and Corporate members with all efforts being made in line with the Group‟s vision and mission in a bid to provide everyone with the benefits of Takaful. In addition to Individual and Group products as well as a comprehensive products‟ portfolio for the national Takaful market, the Group has strategic BancaTakafulpartnerships with leading national financial institutions to cater to its clientele‟s needs. Incorporated in 2006, and began operations in 2007,the Group is registered with and supervised by Securities and Exchange Commission of Pakistan (SECP). Pak-Qatar Family Takaful Ltd.‟s paid-up capital stands today in excess of Rs. 700 million,while Pak-Qatar General Takaful Ltd.‟s paid-up capital is in excess of Rs. 350 million.The Group is being chaired by Sheikh Ali bin Abdullah Al-Thani, member of Qatar‟s Royal Family, and sponsored by some of the strongest financial institutions form the State of Qatar, including the following; Qatar National Bank (QNB) is one of the largest banks in Qatar having the largest share of the banking sector. Qatar International Islamic Bank (QIIB) is one of the most successful Islamic Banks in the State of Qatar. Qatar Islamic Insurance Company (QIIC)is the pioneer ofTakaful andone of the fastest growing Takaful companies intheState of Qatar. Qatar Islamic Bank (QIB) is not only the pioneer and largest Islamic Bank in Qatar but also the fifth Islamic Bank in the world. Masraf Al Rayanis a commercial and investment bank with an entirely Shari‟ah compliant portfolio of products.

The Amwal Group is Qatar‟s leading investment banking, asset management and wealth management firm. The firm boasts a

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strong shareholder base that includes some of the most respected financial institutions and business groups in the region. FWU Group is one of the premier providers of Takaful products in the world.Headquartered out of Munich,Germany it has offices in Luxemburg, Dubai and Kuala Lampur. Fawad Yusuf Securities (Pvt) Limited, established in 1992, is one of the reputed brokerage houses in the Karachi Stock Exchange. Moreover, the Grouphas forgedRe-Takaful relationships with leading international financial institutions which are as follows: Hannover Re, with a gross premium of around 8 billion euro, is one of leading reinsurance groups in the world. It transacts all lines of reinsurance, and maintains business relations with more than 5,000 insurance companies in about 150 countries. Munich Re Group, the first foreign ReTakafuloperator established in Malaysia, operates worldwide turning risk into value. With over 38,000 staff at more than 50 locations, the Group has become the world‟s leading risk carrier and financial services provider. Takaful Re, promoted by Arig, a leading reinsurer in the Middle East,is dedicated to offer Shari‟ah compliant reinsurance and related services to the growing Takaful and Islamic insurance markets with an authorized capital of US$ 500million. Swiss Re Groupisa leading wholesaleprovider of reinsurance, insurance and other insurance-based forms of risk transfer from standard products to tailor-made coverage across all lines of business. Best Re is the world‟s first Shariah-compliant Reinsurance operator, fully owned by the Dubai-based Islamic Arab Insurance Co. (SALAMA). Labuan Re is aninternational reinsurer.Incorporated in 1992 in Malaysia, the Labuan Re, over the years, has established itself as a major player in the Afro-Asian insurance/reinsurance industry. The Group‟s dedicated, competent and highly professional fund management team extracts full benefits from the heavy investment in technology. The ever-vigilant Shari‟ah Advisory Boardchaired by Mufti, Justice (Rtd), Muhammad

7


TaqiUsmani,and comprising of other renowned and erudite scholars steers the Group in a direction that suits a Shariâ€&#x;ah-compliant business entity, thereby ensuring commitment to very high professional standards.

8


Section

:2

Topic

: Pak-Qatar Vision

Pak-Qatar Family & General Takaful‟s Vision is to“Provide financial protection through Takaful, to everyone”. The vision of the Group was crafted after a thorough deliberation of Management Committee members, and conducting a rigorous SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis. The vision of the Group is depicted from our every action we do, and iscascadedeffectively to all employees of the Group.

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Section

: 3

Topic

: Pak-Qatar Mission& Core Value

Our Groupâ€&#x;s Mission communicates our core ideology and visionary goals, consisting the following lofty points: Adopt a holistic approach to the promotion of Takaful amongst the masses encompassing education and awareness and putting forward an image which is consistent with our ideological values. Adhere to best ethical practices in all aspects of our operations, while abiding by the shariâ€&#x;ah and the law of the land. Empower our employees by inspiring, guiding, enabling, and supporting them. Ensure our support to the community and the environment, in the best possible way, within the limitations of our resources. Ensure customer satisfaction by offering quality products and services driven by their needs. Ensure optimum returns to the shareholders.

Core Value: Our core value is Excellence. We strive to do things in a manner that in available resources cannot be done better.

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Section

: 4

Topic

: Statement of Code of Ethics &Operational Practices

Pak-Qatar Takaful Group believes in conducting its operations in light of the moral and ethical standards laid down by Shari‟ah. The Group‟s statement of code of ethics &operational practices aims to provide guidance on carrying out its operation-related decisions and activities. We wish to achieve excellence in all spheres of our operations for which business ethics form the basis. Any party entering any form of contract with the Group is bound to comply with the given guidelines. The Group‟s statement of code of ethics &operational practices has the following guidelines: Honesty and Integrity:The Group believes in giving respect to individuals. We aim to operate in a manner that encourages honesty in all what we do anddiscourages discrimination, harassment and/or influence. Discrimination refers to favoritism based on a particular aspect of an individual‟s personality. Harassment includes gender harassment creating an intimidating, hostile or offensive work environment causing interference with work performance. Influence could be an abuse of authority or the wish to alter personal believes. Unfair Means: Any use of bribery, kickbacks or any form of payment in cash/kind to obtain operation related or otherwise gainful benefit for the Group is strictly prohibited. Excessive business gifts and entertainment also hold the same meaning and the Group does not approve of such payments. Conflict of Interest:The Group prohibits actions that are in conflict with the Group‟s business interests. This may include but is not limited to: • Providing assistance to the competition or holding ownership interests in a customer, supplier, agency or competitor. • Making personal gains at Group‟s expense. Confidentiality: The Group believes in confidentiality of information related to Group‟s operational activities. The Group expects employees not to disclose or divulge by any means the confidential and operational sensitive information except to the authoritative personnel requiring it. Furthermore, they should use their best endeavors to prevent the disclosure of such information by other people. Shari’ah &Statutory Compliance: The Group resolves to comply with Shari‟ah in all its operational activities and products/services offered. Likewise the Group also believes in providing total support and cooperation to all the governmental and regulatory bodies irrespective of the extent of prevalent enforcement.

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Financial Integrity: The Group believes in complete compliance with the accepted accounting/finance rules and procedures. This includes but is not limited to: • Transparency: The Group discourages any illegal activity for the purpose of any benefit to the Group or others. All information supplied to the stakeholders and/or auditors must be authentic & transparent. • Disclosure: All transactions must be fully disclosed and must be for the purpose stated for. Health, Safety and Community Responsibility: The Group is fully committed to safety, health and responsibility towards environment and community. All activities of the Group must portray responsibility towards the community and nation as a whole. The Group seeks to employ procedures that are safe, healthy and environment friendly.

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Section

: 5

Topic

: Pak-QatarPhilosophy

The Group believes in the fact that quality should be our ultimate goal, not only in the products and services we offer to our customers but also in the way we treat people, in the work we do, in the return we give to our employees and shareholders, and in all areas of our interaction. To ensure this goal, the Group recognizes its obligations and objectives and activities are pursued to achieve the same. The management of the Group: Endeavors to practice an open and participative style of management and to have an atmosphere of trust and cooperation between individuals and Management. We recognize that our people are our most important asset and that ultimately our success depends on their caliber and teamwork at all levels homogenously. Aims to create better channels of communication through establishment of cordial relationship with subordinates, peers and seniors that encourages a free flow of information, facilitates open discussion of different viewpoints and allows decision making at the appropriate level. Attempts to be competitive in the remuneration which we offer to our employees. We believe that if we all work together to achieve the goals set out in this philosophy; the Group will grow and become even more successful. We recognize the role that our employees will have played in that success and therefore deserve to be part of the financial rewards. Works to improve the performance and potential of employees through education, training and development both on and off the job. We attempt to provide everyone the opportunities to develop their potential. Strives to keep all employees informed about any news, which may affect their employment, including the state and development of operations.We believe that when mistakes are made we must be prepared to admit and face up to them. Seeks to respond to the evolving demands of our Takaful operations and ever changing needs of our customers, since we believe that our ability to adapt and customer focus are the determinant of our success. Struggles to provide working conditions that are Shariâ€&#x;ah compliant, clean, safe and conducive to comfortable and efficient work practices.

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Section

: 6

Topic

: Logo Rationale

The gracefulLogo of the Group is a fusion of a shield that signifies the element of protection and the two swooshes serve as a base for the shield. The Insignia (shield) comprises of strong Urducalligraphy along with design motifs embedded in it, representing Islamic art and depicting the strong Islamic Ideology as the Group is a Halal Risk Mitigation& Financial Institution that follows Shariâ€&#x;ah regulations. The burgundy and green swoosh under the insignia represent the flag colors of Pakistan and Qatar signifying solidarity, brotherhood and financial cooperation between the two nations.

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Section

: 7

Topic

: Takaful – An Introduction

The word Takaful originates from the Arabic language and means “joint or mutual guarantee”. Takaful is a Halal risk mitigation tool based on the principles of brotherhood,mutual co-operation and Taburru which is encouraged by the Shari‟ah. It serves as an alternate to conventional insurance. In our society, we have varying implications of Takaful; the joint-family system for one and co-operative societies for another in which risks and financial losses are distributed amongst the participants and help is mutually extended to each other in times of need on the principles of Ta‟awun. Exactly the same happens in Takaful, where participants pool their resources so that they might be able to help each other in time of need. Reference of Takaful in Holy Quran &Sunnah Takaful is not a recent invention. In fact, its reference is available in the Holy Quran and Sunnah. The reference is in connection with the divine commandment for brotherhood and mutual solidarity which is exactly what Takaful stands for: It is mentioned in the Holy Quran:

“Cooperate with one another in matters of righteousness and piety.” (Surah Maidah: Aayat No. 2)

Similarly, it is also mentioned:

“Muslims are brothers to one another.” (Surah Hujurat: Aayat No. 10) It is mentioned in the Book of Hadith: “The

believers, in their affection, mercy and sympathy to each other, are like the body, if one of its organs suffer and complains, the entire body responds with insomnia and fever”.(Hadith Muslim: 4685) Type of Takaful There are two classes of Takaful: 1) General Takaful 2) Family Takaful

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General Takaful In General Takaful, the Waqf‟s memberships are assigned to those who need to mitigate risks to their assets like airplanes, motors, and houses etc. In an event of any defined loss to the asset, the Waqf Pool compensates. The company sets up the Waqf Pool, manages it, invests the fund available in the pool in Shari‟ah-compliant businesses, and charges a fixed Wakala fee in return. Family Takaful or Life Takaful The participants of Family Takaful mitigate their risks pertaining to their lives by acquiring a membership of the Waqf Fund. In addition to the protection element, participants can also use Family Takaful for their investment needs through another Fund called the Participant‟s Investment Account.

The Modus Operandi of Takaful The workflow of Takaful is illustrated below:

A:Contributions received are first credited to the Participant Investment Account(PIA)which is used to buy Shari‟ah-compliant investment fund units for the participants. The amount available in the PIA, after meeting various expenses (such as participant‟s medical check-up), is used by the Operatorin the capacity of the Wakeel, under the supervision of the Shari‟ah‟s Board, for investment purposes. B:Investment profits are shared between the Takaful participants.

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C:The Operator charges a fixed Wakala fee for the services rendered in investment management (wakalatulistismar); the fee is paid from the PIA. D:From PIA, units are allotted for the Participant‟s Takaful Fund (PTF) or the Waqf Fund. E: The Waqf fund, and not the Operator, compensates for any mishap to the life/Asset of a Takaful participant. F: The Operator charges a Wakala fee for operating the WaqfFund and shares profits with the Takaful participants on the basis of pre-agreed Modarabapercentage. G: At the end of every year, after having paid all claims and meeting all expenses, any surplus remaining in the WaqfFund may be distributed amongst the Participant‟s as per the recommendation of the Shari‟ah Board. Surplus is paid only to those participants who did not file any claims in the calendar year. The Role of the Company in Takaful System The company or the operator serves as the Wakeel or the Manager of the Waqf Fund and charges a „Wakala fee‟ for it. This fee is paid from the WaqfFund. As the Wakeel, the Operator must invest the funds available in the Waqf Pool in Shari‟ah-compliant businesses for profits. Since the Operator is the Mudarib (working partner) and the Waqf Fund is the Rabul-ul-Maal (sleeping partner), any profits made from the investments are shared between the two on pre-defined percentages. Income of the Waqf Pool 1. Contributions paid by the participants 2. Claim payments received from Re-Takaful Operators 3. Profits made from investing the funds available in the Waqf Pool 4. Qard-e-Hasana, paid by the Operator in an event of any Deficit 5. Miscellaneous donations to the Waqf Pool Expenses of the Waqf Pool 1. Claim payments 2. Re-Takaful payments 3. Wakala Fee of the Operator 4. Operator‟s percentage in the investment profits made 5. Portion of surplus which is distributed to the participants 6. Repayment of Qard-e-Hasana 7. Any donations paid on the recommendation of Shari‟ah Board

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Section

: 8

Topic

: Our Business Functions

At Pak-Qatar, we strive to uphold a tradition of excellence and become the employer of choice. Ours is a workplace where our employees feel confident, valued, and most importantly, inspired.Our workforce is our biggest asset and the driving force behind our success. We pride ourselves in fostering a culture of excellence which recognizes and rewards the dedication and ambitions of all our employees.The key business functions at the Group are as follows:

Takaful Distribution (Individual and Corporate) Our Individual and Corporate Distribution departments serve as our frontline divisions directly interacting with our valued customers. While the Individual department distributes our products to individuals and/ or corporate clients, the Corporate side distributes Takaful products to organizations. Both departments are based at Head office but maintain presence across the country through branch network. Operations This function serves as the core of our business and deals with the following areas: i) New MembershipAssessment: Carries out risk assessment and underwrites Takaful plans by taking into account the information provided by the prospective customer. ii) Actuarial Services: Applies actuarial sciencesfor analysis of mortality, and the production of probabilistic scenarios through application of formulae. iii) BancaTakaful: Distribution of Takaful products through banking channels. iv) Branchoperations: Supervision of branch network across Pakistan. v) Distribution support services: Provide support services to our Takaful Distribution Team 窶的ndividual, department. vi) Participant Benefit Services: Provides customer, claim processing andplan fluctuation services. vii) Retakaful: Arranges retakaful services for the Group viii) Underwriting:

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Underwriting refers to the process that attempts to assess the eligibility of a customer/client to the products and services offered by the Group.The different classes of underwriting areMotor, Marine, Fire, and Miscellaneous. ix) Risk Management: This function includes identification, assessment, and prioritization ofrisks,followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate eventsor to maximize the realization of opportunities. x) Claims: Claim department is responsible for processing a claim and deciding whether mitigation against loss may be made to participant.The process involves considerable investigation to ensure fair and superior service. xi) Business systemoperations Operation of our core business system - PentaSoft. The operations department depends on qualified and experienced professionals for its continued growth and success. Shari‟ah Audit & Compliance Being a Shari‟ah compliant Group, we strive to ensure adherence to its dictates in everything we do. Our Shari‟ah compliance function aims to identify and address issues related to Shari‟ah compliance and ensure new product and process development rely on Shari‟ah principles from the beginning. Periodical Shari‟ah audits are also an integral function of the department. Finance & Accounts and Corporate Compliance Finance is one of the most important aspects of business management. Our finance and accounts section is of immense significance to the organization and manages the funds entrusted to us. Core areas of this crucial function include contribution management, investment/fund management, asset management, payment processing, ensuring regulatory compliance, tax management, payroll processing and financial audits. Human Resources Human Resources department is responsible for the well-being of the Group‟s most important and crucial asset-its workforce. The objective of the department is to ensure the maintenance of a competent, qualified and motivated workforce that can best help to achieve the Group‟s vision. Key facets of HR includemanpower planning and recruitment, Policies formulation & strategy, compensation management, personnel management, learning &organizational development,

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employee wellness, succession planning, vision dissemination, and maintenance of an HR information system. Information Technology & Systems Information Technology & Systems (IT&S) department is crucial to developing and maintaining the Groupâ€&#x;s IT systemâ€&#x;s design, development, networking and maintenance. The department is also responsible for securing all systems and network devices, as well as optimizing their operations, so as to provide an efficient environment for users. The main domains of IT&S department include but are not limited to programming, database management, business intelligence, ERP maintenance, system & business support, and network administration. Training Training in an organizational context is the field concerned with activity aimed at bettering the performance of individuals and groups in organizational settings. The Group attaches great importance to the training and development of its staff. In a growing industry where technically qualified individuals are hard to find and where the presence of the appropriate mindset is crucial, training serves to bring our workforce up the standards of service expected from top organizations in our industry. Our training department works very closely with our frontline sales staff to ensure our points of customer contact are appropriately managed. Training encompasses skills in three realms: soft skills, product/process knowledge and technical skills training. Marketing Marketingdepartment is responsible for building and managing the Groupâ€&#x;s corporate identity, product branding& activation, and collaboration with the media. The department strives to adopt innovative approach to introduce Takaful to the masses by figuring out the clientele's preferences, needs and wants as well as buying behavior. Administration Our Administration department serves the Group as a one point solution with respect to administrative and general services. The core areas of the department are facilities &utility management, fleet management, branch set-up& expansion, event management& travel, printing, and procurement. Internal Audit

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Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve Group's operations. The department helps in bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, through a system of internal controls, and governance processes.

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Section

: 9

Topic

: Group Hierarchy

For the purpose of fair and equitable compensation and job evaluations, the different categories of jobs throughout the Group shall be classified in the following job levels:

Pak-Qatar Family Takaful

Pak-Qatar Family Takaful

Back-office employees

Distribution Staff

Chief Executive Officer

Area Sales Director

General Manager

Senior Regional Head

Deputy General Manager

Regional Head

Assistant General Manager

Zonal Head

Senior Manager

Group Head

Manager Deputy Manager

Business Unit Head Assistant Business Unit Head

Assistant Manager

Senior Development Manager*

Senior Executive Officer

Development Manager*

Executive Officer

Takaful Advisor*

Junior Executive Officer

Takaful Executive Consultant*

Management Trainee

Takaful Consultant*

Trainee Officer Support Staff**

*on Agency contract **on third party contract

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Pak-Qatar General Takaful Back-office employees Chief Executive Officer

Pak-Qatar General Takaful Development Staff Senior Executive Vice President

Senior Executive Vice President Executive Vice President

Executive Vice President

Senior Vice President

Senior Vice President

Joint Senior Vice President

Joint Senior Vice President

Vice President

Vice President

Assistant Vice President

Joint Vice President

Manager

Assistant Vice President

Deputy Manager

Chief Manager

Assistant Manager

Deputy Chief Manager

Senior Executive Officer

Manager

Executive Officer

Deputy Manager

Junior Executive Officer

Assistant Manager

Management Trainee

Senior Takaful Consultant/ Senior Marketing Officer

Trainee Officer Support Staff*

Joint Executive Vice President

Takaful Consultant/ Marketing Officer

*onthird party contract

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Section

: 10

Topic

: Definition of Employee Status

Employees: All persons who receive salaries or wages directly from the Group, and are offered employment in writing. Permanent Employee: A permanent employee is one who has successfully completed his probationary period and consistently works to the customary number of hours weekly and maintains continuous regular employment status. Permanent employee is eligible for all employee benefits including provident fund, paid vacations, group and family Takaful, medical plan, etc., as per the Group policy. Probationary Employee: A probationary employee is one who is employed on a full time schedule initially for a period of three months and/or six months as applicable; this period may be increased or reduced by the management purely at its own discretion. Temporary Employee: A temporary employee is one who is employed for a specific period and for a specific purpose, not likely to continue beyond nine continuous months and works the customary number of full time hours weekly. A temporary employee is not eligible for fringe benefits except gazette and paid weekly holidays. Contract Employee: A contract employee is one with whom the Group enters into a contract to avail his / her services and skills for a specific period and for a specific purpose and who does not necessarily work the customary number of full time hours weekly. A contract employee is only eligible for the benefits specifically provided in the contract, in addition to gazette and paid weekly holidays. Management Trainee: A management trainee is one who is a fresh graduate with four years of education from a recognized university and/or has a work experience of less than 2 years in any management position, employed on a full time schedule initially for a period of one year. This period may be increased or reduced by the management purely at its own discretion.

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Trainee Officer: A trainee officer is one who possesses less than 4 years of formal education, andhas a work experience of less than a year in any management position, employed on a full time schedule initially for a period of one year. This period may be increased or reduced by the management purely at its own discretion.

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Section

: 11

Topic

: Appointment & Termination

It is the policy of the Groupto consider applicants - who have suitable qualification, competency and /or are trainable - for employment in accordance with predetermined job related criteria, purely on merit basis. In the long term, the policy of the Group will be to fill vacancies through promotions, wherever possible. The Group believes that promotions of qualified employee improve employee morale, assure employees of having a chance to grow and encourage them to stay with the Group. Recruiting Job Applicants: All openings in the Group are advertised on the Group‟s official website in “Careers” section. This website facilitates the candidates to apply online using an online application Form. At the same time, if the need be, advertisements will also be placed in the appropriatenewspapers and/or social media. All applicants to be hired in the Groupshall strictly undergo the HR Assessment Center, whichmay constitute one or more assessment techniquessuch as one-to-one interviews, panel interviews, essay writing and psychometric tests. The final decision of hiring of a candidate rests with Human Resources Department. Screening and Checking of References: It is our policy to hire job applicants only after they have been carefully screened. This is done by screening their previous academic and professional (job-related) record - with a view to predict future attitude and conduct.All appointments in the Group are conditional upon obtaining satisfactory references from candidate‟s past and present employer. Pre-placement Medical Examination: All employees appointed by the Groupmay be required to undergo a preemployment medical examination before placement by a qualified physician / hospital referred by the Group.The purpose of this examination shall be to determine if the employee is physically able to perform the job for which he is being considered. It will also be a consideration that the physical condition of the employee should not endanger the health, safety, or well-being of existing employees.All appointments in the Group are conditional upon passing the prescribed medical examination.

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Offer Letter, Appointment Letter, and GeneralConfidentiality Undertaking: All offers of appointment shall be made in writing to the selected candidates. Upon acceptance of offer, candidates shall be issued an Appointment letter. Immediately upon confirmation of employment, all employees will be required to sign a General Confidentiality Undertaking (GCU).The GCU includes the informationin any form whatsoeverconcerning the financial and operational dealings of the Group including, without limitation, any information which falls within the following general categories, and whether pertaining to the Group or any policy holder of the Groupor any party contracting or proposing to contract with the Group: a) Information relating to operational secrets; b) Information relating to existing or contemplated services, Manuals, formulas, computer system and / or software, and any research or development material. c) Information relating to operational plans, methods, method of operational, Participant information and / or requirements, and supplier information. d) Information relating to planned or actual alliances, joint ventures or other Group‟s partner collaboration. e) Any other confidential information that Group or any party contracting or proposing to contract with the Group may wish to protect by Patent, Copyright or by keeping it secret and confidential. Orientation: It is the policy of the Group to ensure provision of congenial and homogeneous working atmosphere to all employees. It is therefore imperative to provide ample opportunity to each new employee to integrate, adjust and get oriented with the new surroundings, environments and functioning as early as possible. The orientation program – administered by Human Resources department- will be accomplished by the responsible supervisor in a formalized, systematic and organized manner by following a series of sessions.Orientation of each new employee will be attained in the following phases: a) b) c) d) e)

Group‟s orientation Department orientation Orientation to Group policies and procedures– Employee Handbook Providing of literature on Takaful, and Group‟s products Training on the job

All documents/Manual/Group‟s literature handed over to the employee as part of orientation program or thereafter,isGroup‟s property and must be properly maintained by the employee and shall be returned to the Group on demand.

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Job Description: All employees shall be provided with a job profile/ job description at the time of commencement of their employment or whenever there is a change in the nature of role/responsibilities associated with the position carried by the individual.The job description will cover the basic information of the job and other information such as roles, responsibilities and key performance indicators.This job description will serve a basis of assessment of the employee‟s performance during the year. Probation: All appointments shall be required to serve an initial period of probation of three months for back office staff, and six months for distribution staff, or a period as deemed appropriate by management. This probationary period has been established as a period in which the management is to closely evaluate each new employee‟s adjustments to his work and assess his ability to perform the job/role assigned to him in a successful way. In case of unsatisfactory performance during the probationary period, the probation period of the subject employee may be extended or his/her services might be terminated henceforth.An employee will not be entitled to avail such benefits during the probationary period which are subject to confirmation of service. Confirmation: A Probationary Appraisal Report will be filled in by the immediate supervisor of the employee, after completion of probationary period, and will be reviewed jointly with Human Resources department.On satisfactory completion of the probationary period, the services of the employee may be confirmed. This will makesuch appraisee eligible for all benefits offered to confirmed employees. Hiring of Relatives: It is the policy of the Group to hire the best qualified employees available for all jobs. However, it is necessary that judgment be used in the placing of employees who are closely related. Hiring relatives is not the policy of the Group in general. For interpretation of this policy, arelativeisconsidered to be thehusband, wife, mother, father, mother-in-law, father-in-law, son, daughter, daughter-in-law, brother, sister, son-inlaw, uncle (parents’ brothers), aunt (parents’ sisters), first cousins, niece and nephew of an employee. An employee who marries another present employee of the Group, is permitted to continue his or her employment. However, they will not be allowed to work in the same department.

28


All job applicants will be required to disclose their relationship with the existing employee on the employment application. If the relationship is one of the types described above, the job applicant will be scrutinized more carefully, and considered favorably for employment only when there is no other candidate who meets the requirements of the job. If the job applicant is found to have falsified information, he/she will be terminated. An exceptionally well qualified and experienced relative may be considered for employment with the prior approval of the CEO; provided he/she is employed in a department or location other than where the applicant‟s related employee works. Termination/Retirement: The Groupwould like to see that every employeehas a long and successful career with us. However, conditions may arise which necessitate the termination of an employee‟s services. Likewise, the employee may also initiate separation request. One-month notice or pay in lieu thereof is mandatory in both the cases. Additionally, the Group might extend the condition of employee‟s notice period to more than one month in case of need. The retirement age for all male and female employees is sixtyyears. The retiring employee will be entitled to receive all terminal benefits as per Grouppolicy, including statutory benefits, if any.In case of gross misconduct by an employee, his services may be dismissed immediately.An employee‟s services may also be terminated on medical grounds if he is unable to perform his duties due to healthreasons. Further to separation of an employee due to any reason, HR will initiate to obtain clearance of employee from the following departments: a) b) c) d) e)

Information Technology & Systems Administration Finance & Accounts Concerned department Human Resources

Oncethe clearance from the above departments is made, final settlement of separating employees‟ dues will be processed for payment. Exit Interviews: It is the policy of the Group to conduct Exit Interviews with all separating employees.The broad objectives of this session are; a) To determine the reason why the employee is leaving and to make efforts to retain desirable employees whenever possible. b) To discover any grievances the employee may have regarding working conditions so that corrective actions can be taken.

29


c) To retain the goodwill of the employee, his/her family, and his/her friends towards the Group. d) To have employee suggest as how to improve the Group as a place to work. All information gathered through Exit Interviews is used for the above purpose only, and are kept in strict confidence. Employee Record Retention: Human Resources department is the custodian of Employee Personnel files, except for non-management sales staff and support staff. The folder shall include such information as the employee‟s application for employment, verification of references, payroll data, supervisory evaluations of performance, monetary increments, transfers, disciplinary actions,reasons for separation, etc. The information contained in the Employee Record Folder is classified “Confidential”. The content may be made available to an employee on the employee‟s request duly recommended by Head of department, except for information, which may be considered as restricted by the management. In the event of separation – for whatever reason – personnel recordsof the separated employee will be held by the Group asit may deem fit.

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Section

: 12

Topic

: Time Management & General Discipline

At Pak-Qatar, we believe that time management is critical to any individual and to theGroup‟s success. Employees are expected to manage their time in the most effective manner possible while at Pak-Qatar. Likewise, the Group requires from all its employees to abide by the highest standards of work performance as per the established organizational policies, Shari‟ah guidelines, norms and code of general conduct. Any misconduct in this respect will make the employee liable to disciplinary action. Working Hours: The official working hours for the Group are 09:00 –17:30hours. Late Arrivals: Late arrival will be considered from 09:11 to 10:30 hours. Employee‟s attendance in the office at 09:00 hours is just on the edge of being late. Therefore, the arrival time in the office ideally, should be between 08:50 and 09:00 hours. Being on time is not just an organizational requirement, but also a reflection of our regard for discipline and punctuality. Five late Time-Ins in a month will be converted to „one day leave‟, which will be deducted from the available Annual Leavesof the employee, unless specified. Moreover, if an employee has reportedlate for three consecutive days, HR will issue him a warning letter placing one copy in the employee file. Late Arrivals and Early Departures: Any Employee arriving office after 10:30 will be considered as taking a half-day Casual leave. Likewise, any Employee leaving the office before 15:30 hours will be considered as taking a half-day Casual leave, unless specified otherwise. Forgetting to Mark Attendance: Though habitual forgettingof marking of attendance is unacceptable; inexceptional cases, employee is required to intimate HR department through an e-mailmarking a copy to his/her Supervisor within two working days.Nevertheless, excessive useof the above practice is discouraged.

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Lunch & Prayer Timing: The break for lunch and prayers is from 1300-1400 hours on Monday-Thursday. For Friday, the break timing is 1300-1430 hours. Dress Code: The Group expects that all employees through their dress and appearance must portray a sense of discipline, decency, respectability and professionalism.All employees are required to be clean, well-groomed and appropriately dressed in accordance with the cultural and professional requirements for the job at all times. Male employees are required to portray a formal image. Shirt and Trouser with a tie is considered to be the formal office attire, whilewearing jacket with the sameis highly recommended. However, employees who do not wear Shirt and Trouser at allmay wearKameezShalwar of lightcolourwhile wearing jacket (waistcoat)with the sameis highly recommended. Furthermore, wearing Shoes and socks is compulsory during working hours. Female employees are required to dress in well-tailored dress, which conveys an image ofrespectability, decorum and efficiency.Furthermore, wearing Shoes and socks is compulsory during working hours. Flimsy, transparent and tight fitting clothes are not acceptable. Likewise, sporty or informal attire (Jeans, T-Shirts, and Joggers etc.) is not permitted. For work assignments where there is a prescribed uniform, the employee is required to wear complete uniform.However, Uniforms provided by the Group should be treated with care and must only be worn while on official duty. Employee Fair Treatment: The Group recognizes its managerial and ethical responsibilities to employees, and is committed to the principle of fair treatment and to developing a culture of equality, integrity and brotherhood. This is aimed at ensuring that employeesâ€&#x; health and well-being, confidence and performance at work are maximized as well as maintaining a working environment conducive to effective service delivery.The policy aims to address unfair treatment of employees by other employees and to encourage and develop a culture of brotherhood, care and compassion. Employee Discipline Policy: The Group requires all its employees to abide by the highest standards of work performance as per the established organizational policies, shariâ€&#x;ahguidelines and ethical code of general conduct. Any misconduct in this respect will make the

32


employee liable to disciplinary action which refers to one or more of the following measures depending on the nature of violation/ offense. a) Verbal counseling b) Written warning c) Suspension from work d) Withholding of promotion and/ or salary increase e) Termination / Dismissal Misconduct is classified as „Minor‟ and „Major‟ misconduct according to the nature of its severeness.The following constitutes Minor misconduct: a) Habitual late attendance b) Interference with work performance of other employee/s c) Improper dressing d)Smoking in the office premises e) Misuse of official time and/ or resources Major misconduct includes the following offenses: a) Theft, fraud, defalcation or dishonesty related to Group‟s business or property b) Accepting or giving bribe or any illegal gratification c) Willful damage to property or loss to Group‟s goods/ property d) Breach of confidentiality e) Violation of any applicable law f) Frequent neglect of work g) Verbal or physical abusive behavior h) Causing actual bodily harm (ABH) to other employees i) Working under the influence of drugs or alcohol j) Unauthorized possession of intoxicants, illegal drugs and/ or weapons k) Discrimination or harassment on the basis of gender, race, religion, caste, etc. l) Intentional insubordination or refusal to obey any lawful or reasonable order of superior m) Conflict of interest through engagement in other employment/ business of similar nature n) Unauthorized material movement outside Group‟soffice/branch o) Unauthorized absence for more than 10 days p) Frequent minor offenses Employee Feedback System: Employee feedback system is available to all employees of the Group to enable them to bring to the attention of management their suggestions, feedback and/or grievances about work related conditions/ problems. This is an effort to improve and gauge the level of internal customer service within the organization, and to communicate any kind of feedback about service provided by any department/s.

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Employees in the course of their work may encounter situations where the performance of the Group or its operational procedures may beenhanced. Employees are encouraged to bring to the attention of management their constructive suggestions or grievances through HR department. Safety & Security: For the sake of security, all outside visitors, visiting the Groupâ€&#x;s Head office must identify themselves at the reception area. The Group reserves the right to conduct security checks and searches on any equipment / person entering or leaving the Groupâ€&#x;sHead officewithout prior information. All offices of the Groupare smoking-free. Moreover,use of all kinds ofintoxicants during the office hours or bringing arms to office is strictly prohibited.

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Section

: 13

Topic

: Total Rewards

The Group offers a range of benefits to employees. These benefits cover items which are in addition to wages whilerecognizing that employees have different needs at different times throughout their careers. The Total Rewards Program is administered through Human Resources aligning with industry practices, Group philosophy and employees‟ needs.The Group believes that its Total Rewards Program represents an integral part of overall compensation and has designed these benefits to provide each employee accordingly. While the Group hopes to continue these benefits, employees must understand that business conditions and legislation may affect this area. The Group reserves the right to amend, modify or terminate any of the Group‟s benefits at any time keeping in view of business, legislation and/or any other conditions. Salaries: Salaries will be paid to employees of the Group in arrearsthrough bank transfer. Salaries are disbursedon a monthly basis by the 30thof every month. Advance against Salary: The Group has the policy to allow a salary advance for facilitating urgent monetary needs of employees. A confirmed employee with at least one-year continuous service in the Group can make a written request supported by reasonable evidence to justify the emergent need. All such advanceswill be adjusted from the payroll runs that immediately follow. The sanctioned amount shall not exceed two month‟s gross salary of the employee. Any amount exceeding this shall require requisite approval. Sanctioning of all such advances shall entirely be at the discretion of Management. Provident Fund: The Group has established a mandatory contributory Provident Fund for employees as part of the terminal benefits. An employee‟s monthly mandatory contribution will be 10% of the drawn basic salary. The deduction will be made directly from employee‟s salary. The Group will simultaneously contribute an equal amount to the employee‟s provident fund account.Admittance into the Group Provident Fund will commence from the date of confirmation of the employment. Loan against Provident Fund: The Group has the policy to allow withdrawalsfrom the available accumulated Provident Fund balancefor facilitating monetary needs of the employees. A

35


confirmed employee with at least one-year continuous service in the Group can make a written request supported by reasonable evidence to justify the emergent need. Withdrawals may be either permanent or temporary. In case of temporary withdrawal,the withdrawal amount may be paid to PF account by the employeein equal monthly installments as per PF rules.A form available with Human Resources details withdrawal terms, and must be used for all withdrawals. Employee Advance: The employee loan facility is provided to employees for granting loan to them to overcome their emergent financial needs as per policy in this regard.A confirmed employee of the Group can make a request, which should be supported by evidence to justify the emergent need.The maximum admissible loan will be two monthsâ€&#x; gross salary. The loan will be repayable over a period oftwelve consecutive months.The discretion to approve the loan shall remain with the Management. Medical Policy Health Takaful Coverage (In-patient Department): Health Takafulcoverage is provided to Groupâ€&#x;s permanent employees and their dependents which include spouse and children.The facility includes all medically necessary treatment and services provided by or on the order of a Physician to the Employee or dependent when admitted as a registered in-patient to a hospital, subject to maximum available limit as per the entitlement.Admittance into theHealth Takaful coverage will commence from the date of confirmation of the employment. Medical ExpenseReimbursement (Out-patient Department): The Group has the policy to facilitate all medically necessary out-patient treatment provided to an employee or dependent who is not a registered in-patient at a hospital, subject to maximum available limit as per the entitlement.However, all such medical reimbursementsshould be claimed on the prescribed formduly supported by all medical receipts in original.Only confirmed employees are eligible for medical expense reimbursement(Out-patient). Life Takaful Coverage: It is the policy of the Group to provide life and accidental Takaful coverage to its employees to compensate the loss due to death or disability.The policy provides coverage for 24 hours a day and includes coverage during both on and off the job. This includesnatural death, accidental death, natural disability andaccidental disability. Admittance into Life Takaful coverage will commence from the date of confirmation of the employment. Car Policy:

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It is the policy of the Group to provide Motor Vehicle to the employees of the Group according to their eligibility, entitlement and related terms and conditions. This policy may be facilitated by any one of the following options: 1. Employee may avail the option of Group owned & maintained vehicle. 2. Employee may avail the option of getting car allowanceas part of their monthly salary. 3. Employee may avail the option of getting car through Ijarah financing. In all cases, the Car Policy will be applicable to those eligible employees, whose employment with the Group has been confirmed. Fuel Policy: It is the policy of the Group to provide fuel facility to eligible employees.The Group appreciates the role played by fuel in the lives of its employees, both as a benefit and a tool;as a tool to allow them to effectively carry out their official duties, and as a benefit which is part of their overall remuneration. The Fuel Policy will be facilitated to eligible employees through providing them fuel card as per their entitlement. Mobile Allowance Policy: The Group provides cellular phone expense reimbursement facility to the incumbents of the position(s) whose jobs are critical to the Groupâ€&#x;s operations and require frequent communication as per eligibility, entitlement and/or business needs. The benefit under this policy isprovided either directly in the salary of the employee or is paid directly to the cellular Company. Leaves Benefits Policy: It is our policy to allow leave benefits to eligible employees as per the following: Annual Leave: The Group grants annual paid vacations to employees to allow periods of rest and relaxation, which will benefit the employees both mentally and physically, and prepare them for better service in the coming year. Permanent employees are eligible to annual leave on the date of their service anniversary.The quantum of annual leave is 30 days including weekly and festival holidays. Annual leave will not be carried forward to subsequent year(s). Sick Leave: Sick leave covers absences resulting from illness or injury up to a maximum of 10 working days per calendar year.Sick leave can be accumulated up to 30 days; however, itcannot be en-cashed.

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Casual Leave: The Group recognizes that there are occasions, which necessitate the employee to be temporarily absent from duty due to personal problems, obligations and emergency situations, and allow up to 10 days of leave of absence from active employment for such eventualities to all permanent employees. Maternity Leave: Permanent female employees are eligible to maternity leave on the date of their service anniversary.The quantum of maternity leave is up to a maximum of 9 weeks, usually 3 weeks prenatal and 6 weeks postnatal. The leave shall be granted three times in the employeeâ€&#x;s total service period with the Group. Public Holidays: The Group recognizes certain days of religious and historic importance as holidays and pays employees for time off on these days in accordance with Gazette Notification under applicable Act,duly notified by the Federal Government. However, no substitution of holidays falling on weekly holiday – Sunday – beyond notification is admissibleunless otherwise specified by management. Traveling Policy: It is the policy of the Group to provide traveling assistance to employees on official business tours/ visits according to entitlement and business need.This includesfacilities and benefits extended to employees traveling for the course of official business. These benefits/ facilities include transportation, hotel accommodation, meals, outstation allowance, entertainment and/or other facilities in connection with traveling. All traveling claims for reimbursement must be submitted on the prescribed Traveling form. All such official/business traveling must be approved by CEO/ relevant approving authoritybeforeproceeding onto the same. Transport Allowance Policy: The Group is considerate of the fact that many of its team members have to go out of the office for a number of official assignments. This more often requires the use of transportation. In order for this outdoor work to be carried out in an efficient and cost effective manner, the transportation expenses related to these assignments will

38


be reimbursed. However, only those employees are eligible under this Policy, who have not been provided with a vehicle and/or fuel by the Group.

Overtime Policy: The Group appreciates the efforts put in byits team, including non-management staff rendering their services in day to day administrative matters. To fully compensate for the overtime devoted by the non-management/support Staff, overtime benefit is provided to them by the Group as per policy. This will be based on the approval of senior staff members who require the services of junior staff as per business requirements. Cafeteria: The Group Head office is equipped with a Cafeteria whereemployees -wishing to make their own arrangements - may utilize the catering facilities (pantry, crockery etc.) and the services of the catering staff. Morning and Evening Tea is available to employees in cafeteria. Laptop Policy: This policy addresses the need by some employees to have a Laptop computer in the Group. The policy is applicable to permanent full time employees only. In general, laptops may be provided to users in the following priority groups: 1. Management Committee members, and Senior Managers and above A laptop may be given for official use in the following cases on special approval by the CEO only: 1. Employees working out of multiple office locations 2. Employees whose job requires them to travel extensively 3. Employees whose nature of work requires them to have a laptop Employee Wellness Programs: Theemployee wellness program -administered by Human Resources –is an effective method to promote health and wellness amongst the employees of the Group. The broader goals of the employee wellness program are the following: a) Guide and inspire employees to lead a more meaningful and goal-oriented life b) Improve general health and well-being c) Improve productivity d) Improve the sense of being a team e) Improve morale & attitude

39


f) Decrease absenteeism g) Reduce turnover rate The Program is run, under the title of “Al-Sahwah” meaning awakening,throughout the year according to schedule. It includesactivities such as Corporate Picnic, Get together,increasing health awareness amongst employees, promotion of work-life balance, sports meets and group activities. Employee Award Policy: It is the policy of the Group to appreciate employee performance by awarding individuals on the basis of excellence in their performance.The award attempts to recognize people who have displayed exceptional excellence in their performance during the year. Excellence in performance means efforts and initiatives beyond the required level for the position. Besides exceptional performance level, an individual‟s social skills such as interpersonal skills, communication skills, time management/ punctuality and self-discipline abilities are also taken into consideration for final selection. The employee may be appreciated with one or more of the following way: a) Employee of the year Award b) Employee of the Department Award c) Recreational trip d) Certificate of Appreciation e) Prize / Souvenir In-houseMedical Consultation Facility: In housemedical consultation facility is available for all employees for general consultation/ advice and/ or emergency during working hours. Any query related to Health Takaful coverage may also be directed to Medical Officer/ HR department. Employees’ Old-age Benefits Policy: It is the policy of the Group to provide Statutory benefits to its employees in line with legal requirements. Employees Old-age Benefits refers to the mandatory old age benefit (Old-age Pension or Grant) provided to the employees as part of terminal benefits through the Employees Old Age Benefit Institution (EOBI) as per Employees Old-Age Benefit Institution Act of 1976. Employee‟s monthly contribution payment towards EOBI will be deducted monthly from their salary. The Policy covers all cadres of employees except those employed on contract.

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Communication Facilities: Telephone, fax and electronic mail facility is available to all employees for conducting official business. Employees may also use the said facilities for their personal use. However, the usage must be limited to a reasonable frequency. Abuse of this facility may lead to disciplinary action. Any cost on account of outstation/ international telephone calls/ faxes, courier dispatch on personal account will be charged directly from the employeeâ€&#x;s monthly gross salary. Distribution of literature, advertisement, political,offensive graphic material, junk/ chain messages etc., electronically or otherwise is strictly prohibited. Similarly, transmission of high volume files on electronic mail is also strictly discouraged. Notices or information of general interest may only be circulated with prior information to the HR department. The Group may without assigning any reason, decline communication facility to any employee.

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Section

: 14

Topic

: Performance& Strategic Management

It is the policy of the Groupto plan, evaluate and provide feedback on the performance of employeesand accordingly provide career enhancement opportunities and monetary rewards to them in terms of salary increase. Performance Appraisal: Performance management at the Group is a continuous, planned, and an open appraisal system, sharing information with employee about his/ her performance inclusive of the overall performance rating and meeting of Key Performance Indicators; however all discussions are required to be kept confidential on part of the appraiser and appraisee.The performance assessment of the appraisee is discussed and documented,and the same is sent to HR with recommendation.The HR committee subsequentlyreviews each and every case in order to validate the recommendations of the appraiser.The review period at the Group normally runs fromJanuary to December every year.It takes normally 2 months to complete Annual Appraisals activity. However, the financial effect is given with effective dates where possible. The process of Performance Appraisal includesone to one session with appraiser and appraisee in presence of representative from HR department as per appraisal guidelines. Employee Career Opportunities and Succession Policy: It is the policy of the Group to provide career opportunities to employees for promoting internal talent and succession planning.Career Opportunities refer to elevated/ enhanced responsibilities, portfolio, remuneration, training, hierarchy etc.,while,Succession Planning refers to the planning for filling anticipated replacements in future as a result of retirements/ separations/ contingencies. Employee career and succession planning ensures continuity of operations for the organization and is an integral part of organizationâ€&#x;s risk management strategies.Career opportunities are extended on selective basis depending on an individualâ€&#x;s profile, potential and work quality.The identified successor for succession planning is groomed over a time period with the necessary knowledge & skills for smooth taking over.HR department utilizes annual performance reviews for deriving pool of high potentialcandidates (HiPos)and corresponding management feedback for career and succession planning.

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Section

: 15

Topic

: Employee Training/Education & Organizational Development

As part of the Group‟s philosophy of investing in its People, ample opportunities for professional development& learning are provided to employees. Professional Development Policy: It is the policy of the Group to provide opportunities for professional development to its employees for enhancement of their knowledge and skills which include training programs conducted internally or externally.The employee and the respective Manager generally assess the training needs for the employee during the annual performance review jointly.During the course of the year, the Supervisor/Head of the department or the HR department nominates the concerned employee.Alternatively, the employee may himselfopt for a training program byrequesting HR through his supervisor.HR will consider the employee‟s request by keeping in view the suitability of the chosen training program, employee‟s profile, potential,and relevantcost of the training program. In case of similar training needs for a group of employees, the training may be offered internally on customized basis. The facilitator may be from internal or external sources with a high level of knowledge base in the subject area. Employee Education Policy: With the aim to make our Group a learning organization, employees at every level are encouraged to pursue professional qualifications/ certifications and/or diplomasin accordance with their nature of job, aptitude and previous education.This has its importance both for employee motivation and career development and for the professional approach to be adopted in our systems and procedures.Some of the programs found common in the Group are; 1. Post Graduate Diploma in Banking & Finance – from Center for Islamic Education, Karachi (a division of Jamia Darul Uloom, Karachi), or any other recognized institute. 2. Fellowship in Actuarial Studies – from Society of Actuary, USA,and Institute of Actuaries, UK.

43


3. CA, ICMA, ACCA, CFA, PIPFA, CIMA, CIAor any other education related to Finance, Accounting, and Audit. 4. Fellow Life Management Institute, USA (FLMI) 5. Associate of the Chartered Insurance Institute, UK (ACII) 6. Diploma in Insurance – from Pakistan Insurance Institute 7. Masters inInsurance – from University of Karachi 8. Diploma/Certification in Information Technology, SAP,&associated fields 9. Diploma in Administration& ServicesManagement 10. Certification in HR–from Society for Human Resource Management, USA 11. Any other relevant diploma/certification Management will decide to reimburse fee/expenditures in acquiring the particular educationon the basis of relevancy of the course/degree to employee‟s official work, as well as the value this course/degree will add to the employee. In case the Group decides not to reimburse the fee(s), employees are more likely to get a one-time cash reward, or increment, or promotion, and/or a certificate recognizing the achievement on successful completion of the course/degree.

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Section

: 16

Topic

: Frequently Asked Questions

The Frequently Asked Questions (FAQs)are designed for the convenience of employees of the Group. They provide the brisk and better understanding of common querieswhich may arise related to different areas of Human Resources department. Recruitment & Onboarding Q1. How do I know the current openings in the Group? Answer: All current openings are advertised in the careers section on the Group‟s official web-site which is www.pakqatar.com.pk. At the same time, if need be, advertisements are also placed in the appropriate newspapers and/or social media. Q2. May I recommend any of my relatives for employment at Pak-Qatar? Answer: Hiring relatives is not the policy of the Group in general. However, an exceptionally well qualified and experienced relative may be considered for employment with the prior approval of the CEO and/ or Head of Human Resources; provided he/she is employed in a department or location other than where the applicant‟s relative works. The definition of a relative is given in the Group‟s policy document. Q3. What is sought the most from an applicant while being selected for employment at Pak-Qatar? Answer:It is the policy of the Group to consider applicants - who have suitable qualification, competency, a strong desire for pursuing career in a shari‟ah-compliant organization/Takaful, and/or are trainable for employment in accordance with predetermined job related criteria. Q4. How Pak-Qatar’s Management Trainee program is? Answer: Pak-Qatar offers a promising and rewarding Management Trainee program to young, bright, hardworking and dynamic graduates who are on a look out to make their career in a progressive Takaful Company. The program is normally run every year in order to pick the best talent and is aimed at grooming top graduates with ample learning & development opportunities, enabling them to take over as future leaders. Q5. How does Pak-Qatar keep contact with academia?

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Answer: HR and Marketing departments keep contact with academia through arranging a number of seminars, guest speaker sessions, and conducting Assessment centers. Q6. What is Pak-Qatar’s policy regarding re-hiring of an employee? Answer:We welcome and hire ex-employees. However, a thorough examination of the performance and conduct of the employee at the Group is taken into account before taking any decision to rehire.The decisions in the respect rest with Management. Q7. What can I expect of my first days at Pak-Qatar? Answer:Your first days on the job can be simultaneously exciting and overwhelming; as you are introduced to the people, processes, and systems you will interact with, as well as the physical environment and organizational structure in which you will now work. Work closely with your peers and supervisors and aim to excel in everything little task assigned. Q8. How do I get related information on my first day? Answer:All new-hires report to Human Resources on arrival on their first day of joining. HR will give a comprehensive orientation to the employee, and will provide all the information related to HR policies and procedures. The HR representative will then take the employee on a guided tour to show him around and meet with employees in different departments who are going to be points of contact for him. Employee‟s Head of department will explain him the key information regarding department‟s structure and job description, and any other information that may be helpful to employee in performing his duties. Q9. When do I receive my employee card, health card, and business card? Answer: Employee card is provided within two weeks of joining and so are business cards. However, business cards are provided to employees in the cadre of Assistant Manager and above. Nevertheless, on recommendation of the HOD, and approval of Head of Human Resources, employees whose nature of job requires them to have a business card may be provided with one. Q10. When will I be provided a job description? Answer: The employee is provided his/her job description within a week of joining. Q11. How do I resign from employment? Is serving one month notice mandatory? Answer: A confirmed employee may give resignation to his/her functional Head in writing while serving one month notice. This is mandatory from either side other than cases of disciplinary action, wherein Group may terminate the services of the employee immediately. For non-confirmed employees, one day notice is sufficient from either side. Q12. Is there any exit interview through which a separating employee has to go through? Answer: Yes. An exit interview is conducted with each separating employee by HR. All information received from this session is kept in strict confidence. Q13. What deductions are made in final settlement?

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Answer: The following deductions are made from final settlement of the separating employee: 1) Loans/Ijarah settlement/etc 2) EOBI – Employee contribution 3) Provident fund contribution 4) Unaccounted-for leaves 5) Any other legitimate deduction as per policy Q14. How many days does it take for processing final settlements? Answer: Normally, it takes fifteen working days - from the last working day of separating employee - for processing of final settlements.

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Confirmation of Employment Q1. When my employment will be confirmed at Pak-Qatar? Answer: For all back office staff, employment will be confirmed after satisfactory performance during the probation period which is three months. However, in case of sales staff, the duration of probation period is six months. Q2. Is there any appraisal meeting at the end of my probation period? Answer: Yes. The three months or six months‟ probation period, as applicable, is followed by a one to one appraisal meeting between employee and his or her supervisor. Performance during the probationary period is discussed and documented and the same is forwarded along with recommendation to HR. On the basis of this report, the decision of confirmation of employment is taken. Q3. What happens if my performance during the probation period is below satisfactory level? Answer: During the probation period appraisal meeting, an employee‟s strong areas as well as week areas are communicated, and discussions are carried out on how improvements may be made in week areas. In case of below satisfactory performance, either probationary period may be extended or employee‟s employment may be terminated henceforth. Q4. Is there any monetary increment on confirmation of employment? Answer: In general, no increments are awarded on confirmation. All monetary increments are awarded at the end of annual performance appraisal which usually ends on December each year. Q5. What privileges do I have as a confirmed employee? Answer: As a confirmed employee, you are entitled to all benefits which are available to confirmed/permanent employees. These benefits include but not limited to Provident fund facility, Life & Health Takaful coverage, Annual leaves, etc.

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Time & Leave Management Q1. How can I have my time entries made manually in case I forget to log in? Answer: Please send an email to Human Resources with a carbon copy (cc) to your direct supervisor. Q2. What is the Shift timing and working day schedule at PQT? Answer: The shift timing of the Group is 9:00 am to 5:30 pm. Working days are from Monday to Friday. Employees are encouraged to arrive early in order to avoid traffic. Q3. When will I be considered late? Answer: You will be considered late when you log in after 9:30 am. Q4. When will I be considered on Half day leave? Answer: You will be considered on Half day, when you log in after 10:30 am or Log out before 3:30 pm. Q5. What is an early departure? Answer: Early departure is when you leave office between 3:30 pm and 5:30 pm. Q6. How many leaves is a confirmed employee entitled to during a calendar year? Answer: Leaves available are as follows: 10 Sick Leaves, 10 Casual Leaves & 30 Annual Leaves. Q7. How many leaves are non - confirmed employees entitled to during a calendar year? Answer: Non-confirmed employees may only avail Sick and Casual leaves (on approval) as follows: 10 Sick Leaves & 10 Casual Leaves. Q8. When will Annual leaves be deducted due to late in’s? Answer: If you are late 5 times in a month, your one Annual leave will be deducted from your quota. Q9. What are gazette holidays and what holiday schedule does PQTG follow? Answer: Gazette holidays are those that are ordained to be holidays by the Federal Government. The Groupâ€&#x;s Offices remain closed on Gazette holidays and on any other holidays announced by the Federal Government. Q10. Are Offices open during Strike calls? Answer: Offices will be open during Strikes unless otherwise notified.

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Compensation &Benefits Q1. When is payroll processed? Answer: Payroll processing begins on the 25th of every month – this is the cutoff date - and salaries are transferred to bank accounts by the 30th. Q2. Do I need to open a bank account on my own? Answer: Yes, if you do not already have an account in either Meezan Bank or Bank Islami, you will need to open an account there. A letter for the purpose may be obtained from Human Resources. Once you have an account number, please email Bank Account information to Human Resources. Q3. How are pay-slips sent to employees? Answer: Pay-slips are emailed to employees within the first 10 days of the month on either official or personal email addresses provided by you in your employment documents. Q4. How does Provident Fund work? Answer: PF is an employee benefit where 10% of your basic pay is deducted from your salary every month and deposited in a special PF account in your name. The Group contributes an equal amount every month and this accumulates during your employment tenure with the Group. On separation, the PF amount is paid to you in full. Either temporary or permanent withdrawals from this PF account may be made during your tenure subject to the terms and conditions of these withdrawals. Q5. Are EOBI deductions necessary? Answer: Yes, EOBI deductions are required under law. The deducted amount along with the Group‟s contribution is submitted to the Employee‟ Old-age Benefits Institution – a government institution that looks after pension payments to retirees/disabled, and dependents of expired. Q6. Are allowances taxable? Answer: Yes, all allowances e.g. car, fuel, technical, developmental etc. are taxable under law. These are clubbed with your base pay and a resultant tax slab rate is calculated according to your expected annual income. Q7. How is income tax calculated? Answer: Income tax is governed by the Income Tax Ordinance. Your tax slab rate is calculated according to your annual income – which includes all payments made to you e.g. base pay, allowances, commission, bonus etc. Slab rates of tax may change from year to year as per Government‟s notification.

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Q8. What is the difference between Basic Salary and Gross Salary? Answer: Basic Salary is calculated as 65% of Gross salary. Gross salary amounts include allowances such as House Rent and Utilities. Q9. How are OPD bills reimbursed? Answer: OPD Bills must be submitted to HR according to deadline communicated by HR. Bills are reimbursed along with the monthly payroll run. Q10. How can I apply for a loan? Answer: Loans are governed by the Group‟s Loan Policy. Terms and conditions for acquiring loans are mentioned on the requisite Loan request form. In general, employees must have been associated with the Group for at-least 4 years and service must be confirmed. Q11. Can I voluntarily increase or decrease my PF deduction? Answer: Provident Fund deductions are governed by law. An employee cannot voluntarily increase or decrease deductions. Q12. What Health and Life coverage benefits are available to me? Answer: All confirmed, permanent employees are covered under the Pak-Qatar‟sGroup Life and Group Health Takaful Schemes. As part of the Group Life scheme, employees are provided life coverage as per Group‟s policy. As part of the Group Health scheme, employees are given medical coverage for hospitalization, OPD and maternity claims. Limits are according to designation. Q13. I don’t have EOBI card. What should I do? Answer: EOBI cards are issued by the Institution of EOBI. If you are already registered with EOBI, you can forward your registration number to HR for updating our record.In case you are not registered previously, HR will have you registered with the Institution, and will arrange EOBI card for you.The registration number once allotted will remain the same till attainment of superannuation.

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Provident Fund, Loans & Advances Q1. What is Provident Fund (PF)? Answer: Provident fund is a type of a pension fund meant to facilitate the employee on his or her separation from the Group. It is a benefit available to confirmed employees wherein 10% of the employeeâ€&#x;s basic salary is deducted during the payroll run and an equivalent amount is contributed by the Group before being deposited in a PF account in the employeeâ€&#x;s name. Q2. How can I know what the value of my Provident Fund is? Answer:Please send an email to any HR representative requesting information on your balance. Q3. Who is eligible to withdraw PF? Answer: Only confirmed employees with at least 1 year of continuous service can avail loans against Provident Fund. Q4. How can I withdraw my PF? Answer: Please use the requisite PF request form available with HR and submit it to HR. Q5. How much of my PF can I withdraw? Answer: You can withdraw amounts according to conditions and limits are given on the PF request form. Q6. What are the maximum repayment installments of PF? Answer: The maximum repayment term is 24 installments. Q7. How many days consumed in this process? Answer: For HR processing it requires 3 working days and for finance it requires 3 working days. Q8. What is the maximum amount of a loan I can take from the Group? Answer:Long-term loans are currently inactive. However, confirmed employees may take up to 2 gross salaries as loan which is repayable in 12 consecutive months. Q9. What is a procedure for applying for a loan? Answer: You have to fill a Loan Request Form available with HR. Q10. What is the maximum repayment period of Loan? Answer: The maximum repayment tenure is 12 months.

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Q11. What is the turnaround time for loan processing? Answer: For HR processing requires 3working days while checks are issued by Finance & Accounts in a further 3 working days. Q12. What isthe eligibility for Advance Salary? Answer: Advance salary may be taken by confirmed employees only. Q13. How much amount of Advance Salary may I take? Answer: You may apply for the equivalent of 1 or 2 months gross salary. Q14. What is the procedure for applying advance Salary? Answer: You have to fill advance salary form signed by your HOD and submit to HR Department. Q15. How many times I can apply for Advance Salary? Answer: 5 times in a calendar year and 3 consecutive months in a calendar year. Q16. How much days consumed in this process? Answer: For HR processing it requires 2 working days and for finance it requires 3 working days.

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Training &Organizational Development Q1. Where can I find information on training and professional development? Answer: The HR portal has the training calendar for the year that provides a listing and descriptions of upcoming training program and workshops. The HR staff is also available to help with the following: Evaluate department training needs Design programs to meet these needs Identify and evaluate local workshop offerings Assist in refining training programs Q2. What financial assistance is available to allow me to experience educational opportunities for career development and self-improvement? Answer:Pak-Qatar encourages all employees to take advantage of educational opportunities for career development and self-improvement. Pak-Qatar provides reimbursement to employees who appear for ACII, PGD in Islamic Finance and provides membership fees of chartered institutes. Q3. Will I be able to attend programs scheduled during my regular working hours? Answer: You will need to contact your supervisor to discuss attending a program that may be scheduled during your regular work period. Q4. When are T&D programs offered? Answer: T&D offers a variety of programs throughout the course of the year. Please see the training catalog to check the most updated list of upcoming courses. Q5. What workshops are offered through T&D? Answer:Pak-Qatar T&D offers a variety of programs to help enhance your development as a professional. The programs can be viewed on the training calendar section of the portal. Q6. How do I know if a program/workshop will fit my needs? Answer:We strongly encourage you to discuss the training opportunities available with your supervisor and together select the workshops that will best suit your developmental needs. Also, be sure to enroll in and attend workshops designed specifically for employees in your specific job classification. Q7. How do I register for a T&D program/workshop? Answer:Simply inform your supervisor to nominate you or email/call HR department.

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Q8. How do I cancel my registration for a program/workshop that I am unable to attend? Answer: If you are unable to attend a program/workshop for any reason, please inform your supervisor or call and cancel at least 48 hours prior to the session so that someone else may have the opportunity to attend. Q9. Will we be told in advance if a program/workshop is canceled? Answer: Workshops are rarely canceled; however, in the event that one must be canceled we will do our best to notify you by email or phone prior to the scheduled event. Q10. How do I submit an idea for a T&D program/workshop? Answer:If you have any ideas regarding programs or workshops you think would be beneficial, please let us know.We would love to hear from you!

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Employee Handbook