NBFI & Modaraba Association of Pakistan (The Association) was incorporated on 29th July, 2010 by merging Modaraba Association of Pakistan (MAP) and Leasing Association of Pakistan (LAP). The total numbers of members of the Association are 40 (forty) which includes 27 Modarabas, 10 Leasing companies and 3 investment banks.
The mission of the Association is to provide a forum to the Leasing & Modaraba Companies in Pakistan, to confer on all issues of common interest, to formulate join strategies for their operations. The Association is striving to restore the image of the Financial Services sector in Pakistan.
The Association provides a strong platform to members to liaise with the Regulatory Authorities to create an enabling environment for members to promote their business and contribute towards economic development of the country specially SME sector which is the backbone of Pakistan's economy and major job creator in the country.
In order to increase the membership of the Association and make it a true representative body of NBFI sector, the Memorandum of the Association provides for the inclusion of Modaraba, Leasing, Investment Finance Services, Housing Finance, Investment Advisory Services, Discounting Services, Private Equity/Venture Capital, REITS and such other business as permitted to be conducted by the members of the Association. By inviting all these entities, the scope of the Association can be widened.
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First Habib Modaraba announced their financial results
First Habib Modaraba announced their financial results for the year ended June 30, 2015 and booked profit of Rs.306 million as compared to Rs.285 million for the corresponding period last year. FHM also declared a cash dividend of 22% to its certificate holders.
Launching Ceremony of Year Book 2014
NBFI & Modaraba Association of Pakistan arranged a launching ceremony of Year Book 2014 on Thursday the February 26, 2015 at Pearl Continental Hotel, Karachi.
Mr. Muhammad Shoaib Ibrahim has been elected Chairman for the Year 2014-15 while Mr. Naveed Amin as Senior Vice Chairman and Mr. Rashid Kamal Siddiqui as Vice Chairman of NBFI & Modaraba association of Pakistan.
4th Annual General Meeting
4th Annual General Meeting of the Association was held on 19th September 2014 at the Conference Hall of the Association.
Launching Ceremony of Year Book 2013
Launching ceremony of Year Book 2013 was held on Friday the January 10, 2014 at Karachi Marriott Hotel.
Mr. Imtiaz Haider, Commissioner, Specialized Companies Division, SECP was the Chief Guest, while Mr. Asif Jalal Bhatti, Mr. Shahid Nasim, Mr. Jawed Hussain and Mr. Nasir Askar from SECP and Mr. Kazi Abdul Muktadir, Deputy Governor, State Bank of Pakistan participated the ceremony. The ceremony was attended by CEOs of Modaraba, Leasing Companies and Investment Banks and Shariah Advisors.