Mahaana Wealth, a Y-Combinator-backed fintech, in partnership with IGI Life Insurance Limited of the Packages Group, has launched Pakistan’s first fully digital, Shari’ah-compliant voluntary pension scheme, the Mahaana IGI Islamic Retirement Fund.
The initiative is designed to promote retirement savings and financial security through a regulated, technology-driven platform, offering individuals—including self-employed and informal sector workers—an accessible way to plan for retirement while benefiting from tax incentives and professional fund management.
The launch event took place at IGI Life’s Lahore office and was attended by key figures including Syed Hyder Ali, CEO of Packages Group; Shamoon Tariq, CEO of Mahaana Wealth; Ali Nadeem, CEO of IGI Life; Mattias Martinsson, Founding Partner and CIO of Tundra Fonder, Sweden; Syed Ammar Naqvi, Special Secretary, Ministry of IT; Akif Saeed, Chairperson of the Securities and Exchange Commission of Pakistan (SECP); and H.E. Alexandra Berg Von Linde, Ambassador of Sweden to Pakistan.
Under the initiative, Mahaana Wealth will act as both the investment advisor and technology partner, managing day-to-day fund operations and providing real-time digital access and transparency to investors. IGI Life will oversee fund administration and the Takaful component, with custodial arrangements handled through the Central Depository Company (CDC).
Shamoon Tariq highlighted that the fund draws inspiration from the Swedish pension and social system, aiming to provide dignified and sufficient post-retirement living while offering instant income tax credits.
Mattias Martinsson emphasized Pakistan’s potential as a structural growth market and expressed confidence that such initiatives would help expand the local investor base and strengthen the national economy.
Akif Saeed noted that the launch aligns with SECP efforts to enhance financial inclusion and broaden access to technology-led savings systems. Syed Ammar Naqvi from the Ministry of IT reaffirmed the government’s commitment to supporting innovative technology solutions that accelerate Pakistan’s growth roadmap.
H.E. Alexandra highlighted that the platform, in line with global standards, is expected to strengthen the culture of retirement savings, promote Shari’ah-compliant investment opportunities, and contribute to the country’s long-term financial stability and inclusive economic growth.
The Mahaana IGI Islamic Retirement Fund marks a significant milestone in Pakistan’s financial sector, combining innovation, compliance, and accessibility to empower individuals to plan effectively for their post-retirement future.
