Mahaana Wealth, a Y-Combinator–backed fintech, in collaboration with IGI Life Insurance Limited — part of the Packages Group — has launched the Mahaana IGI Islamic Retirement Fund, Pakistan’s first fully digital and Shari’ah-compliant voluntary pension scheme.
The initiative aims to strengthen retirement savings and financial security through a regulated, technology-led platform. It offers an accessible solution for individuals, including self-employed and informal sector workers, enabling them to plan for retirement with tax benefits and professional fund management.
The launch event, held at IGI’s Lahore office, was attended by prominent leaders including:
- Syed Hyder Ali, CEO, Packages Group
- Shamoon Tariq, CEO, Mahaana Wealth
- Ali Nadeem, CEO, IGI Life
- Mattias Martinsson, Founding Partner and CIO, Tundra Fonder (Sweden)
- Syed Ammar Naqvi, Special Secretary, Ministry of IT
- Akif Saeed, Chairperson, SECP
- H.E. Alexandra Berg Von Linde, Ambassador of Sweden in Pakistan
Mahaana Wealth will act as the investment advisor and technology partner, managing the fund’s operations to ensure real-time access and transparency. IGI Life will oversee fund administration and the Takaful component, with custodial services managed by the Central Depository Company (CDC).
Inspired by the Swedish pension and social system, Mahaana aims to promote dignified post-retirement living with instant income tax credits. “We believe in Pakistan as our structural growth market and remain active foreign investors,” said Mattias Martinsson, noting the initiative’s potential to broaden Pakistan’s investor base.
Akif Saeed highlighted that the platform supports the SECP’s vision of financial inclusion, while Syed Ammar Naqvi reaffirmed the Ministry of IT’s commitment to support innovators driving Pakistan’s digital transformation.
Ambassador Alexandra Berg Von Linde emphasized that the initiative aligns with global standards, helping to cultivate a retirement savings culture and expand Shari’ah-compliant investment opportunities, contributing to long-term financial stability and inclusive economic growth.
