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  • NBFI & Modaraba Association of Pakistan has established Regional Office of the Association at Lahore
  • The 8th Annual General Meeting of the Association held on 26th September 2018 at the Conference Hall of the Association.
  • Mr. Raheel Qamar Ahmad has been elected Chairman for the Year 2018-19 while Mr. Muhammad Adil Ghaffar as Senior Vice Chairman and Mr. Shiraz Butt as Vice Chairman of NBFI & Modaraba association of Pakistan.
  • NBFI & Modaraba Association of Pakistan in collaboration with Pakistan Global Law Academy is organizing a “Law Seminar on Corporate Governance, Compliance & Litigation in Pakistan” on Wednesday the 2nd May 2018 at Karachi Gymkhana Auditorium
  • NBFI & Modaraba Association of Pakistan launched its Year Book 2017 on 14th February 2018.

Mr. Raheel Qamar Ahmad (Chairman)

Mr. Ahmad has been the CEO of Standard Chartered Modaraba since 2011, which was renamed as ORIX Modaraba after acquisition by ORIX group, a landmark FDI transaction by the largest and oldest NBFI group in Pakistan. Under his leadership the entity has achieved many awards in the last few years including the status of a though leader in its space.

He has over 25 years of varied corporate and investment banking experience and has In his last three roles, he ran the country local corporate portfolio at Standard Chartered Bank and large regional corporate portfolios at United Bank Limited and Allied Bank. Prior to that he ran Mashreq Bank’s structured finance portfolio. He has also participated as sell side advisor for entities in the Government of Pakistan privatisation programme. In addition to various technical, risk, Islamic banking and other certifications, Raheel is also a certified board director (from PICG) enabling him to be appointed to any listed company’s board in the country. He holds a Masters in Business Administration from the Illinois Institute of Technology, Chicago (IIT) and a Bachelor of Science in Engineering from University of Engineering and Technology, Lahore (UET).

Raheel is a former Chairman of the NBFI and Modaraba Association of Pakistan and a Vice president of the Asian Financial Services Association, in which he facilitated much required reform in the sector. He has also been featured amongst the top 100 CEOs of Pakistan.

Mr. Muhammad Adil Ghaffar (Senior Vice Chairman)

Mr. Ghafffar, completed his basic education from BVS Parsi School and D.J. Science College. After completing Bachelor's in Commerce from University of Karachi, he joined Sidat Hyder Morshed, Chartered Accountants to complete articles, prerequisite to chartered accountancy. He was qualified in 1993 and joined First UDL Modaraba. He is currently a Fellow member of the Institute of Chartered Accountants of Pakistan and Institute of Corporate Secretaries of Pakistan.

He had successfully completed the Directors Training program conducted by ICAP and is a Certified Director. He also hold different certifications from Institute of Capital Market.

Since February 2000, he is Chief Executive Officer and Director of Premier Financial Services (Pvt) Ltd. Before that since 1995 he was Senior Manager, Finance & Corporate. He holds Directorship of Equity Textiles Ltd. and Capital Financial Services (Pvt) Ltd.

Mr. Ghaffar serve as Chairman of Modaraba Association of Pakistan and Executive Committee Member of NBFI & Modaraba Association. Presently, he is General Secretary of PSX Stockbrokers Association. He also served in various committees of ICAP and wrote different articles in ICAP Journal “The Pakistan Accountant”

Mr. Shiraz Butt (Vice Chairman)

Mr. Shiraz Butt has diversified professional experience of over 21 years in Leasing, Investment Banking and Modaraba sector. He started his professional carrier back in 1996 with a leasing company, in 1999 moved to Modaraba sector. Currently Mr. Shiraz Butt is CEO & Director of First IBL Modaraba.

Mr. Shiraz Butt has strong educational back ground, holds Master Degree in Business Administration. He is also Fellow Member of Institute of Public Accountants (Australia), Associate Member of Institute of Financial Accountant (UK) & Member of Institute of Financial Markets of Pakistan (Pakistan Markets Regulations Certification, and Fundamental of Capital Market Certification).

Mr. Jalaluddin Ahmed (Member)

Mr. Jalaluddin Ahmed holds degree in B.A. Economics Statistics and has over 33 years of experience in Commercial Banking and Islamic Financial Products. His Commercial Banking experience including 10 years of International exposure by serving United Bank Limited in various countries in the Middle East. Mr. Jalal is CEO of First Al-Noor Modaraba.

Mr. Ahsan Ullah Khan (Member)

Mr. Ahsanullah Khan has recently rejoined Saudi Pak Leasing as its Chief Executive/MD with the aim to revive the company which is facing acute financial distress. He has also served this Organization as its Chairman and Chief Executive Officer in the past. He is a seasoned and senior banker groomed and trained in an international commercial banking environment at home and abroad having worked for more than four decades with the leading International commercial and investment banks and financial institutions from middle management to the topmost cadre in the financial sector nationally and internationally at financial hubs like Karachi, Dubai and Singapore. His credentials and experience speak loudly of his having command over besides, effective inter-personal and communication skills and professional computer literacy in the different disciplines of banking and finance.

He has also held following significant positions:

1.Vice Chairman – Investment Bank Association 2014 to 2017
2.Director/Chairman Board of Directors – Saudi Pak Leasing Company(2014-15)
3.Former CEO/Managing Director – Saudi Pak Leasing Company
4.Former Senior Vice-Chairman – NBFI & Modaraba Association 2013-14

Mr. Syed Wajih Hassan (Member)

Syed Wajih Hassan is Fellow of Chartered Accountant. He holds 20+ years of professional experience serving in MNC’s including leading Financial Institutions and IT companies at middle to senior level positions, before joining as CEO of First Paramount Modaraba. Having vast experience in the field of business and finance, Wajih has been instrumental in introducing new ventures to the Modaraba using Musharika and Modaraba modes of investments.

Mr. Karim Hatim (Member)

Mr. Karim formerly served as Group Head Advisory & Strategic Investment Group of Pak Brunei. He is a Fellow Member of the Institute of Chartered Accountants of Pakistan with twenty years of post- qualification experience of working in Non- Banking Finance Companies and Development Finance Institutions in various management cadres including Chief Operating Officer and Group Head. Areas of specialization include development and implementation of business strategies, turnaround of companies as well as investment banking divisions of development finance companies with emphasis on revival of sick units and financial advisory, recovery and restructuring of infected portfolios, corporate finance, treasury, capital, market operations, finance and credit appraisals.

Mr. Shuja Malik (Member)

Mr. Shuja Malik is an Accounting and Finance graduate from the University of East London. He has experience of over 20 years in banking, sales and marketing of agro chemicals, stock market trading, pharmaceuticals, etc. He had previously been on the boards of two public limited companies, namely, Searle Pakistan Limited and United Brands Limited. Currently he is on the board of First UDL Modaraba.

Mr. Muhammad Hassan Marfani (Member)

Mr. Hassan Marfani is a member of Institute of Chartered Accountants of Pakistan (ICAP), currently associated with BankIslami Modaraba Investments Limited as CFO & Company Secretary with over 7 years accumulated, diversified and in depth experience in the areas of auditing, accounting, regulatory compliance, financial management, taxation and financial planning. He has completed his CA training from EY-Pakistan.

In addition to above, he has been training finance & accounts professionals from various companies having senior management designation on International Financial Reporting Standards (IFRSs) at ICMA Pakistan and different corporate forums. He has also trained “Auditor General Pakistan (AGP)” employees on “International Public Sector Accounting Standards (IPSASs)” and considered as pioneer of conducting IPSASs trainings in Pakistan. Moreover he has been teaching various accounting and auditing subjects to Chartered Accountancy (ICAP) students since 2013. Further he is commonly invited as a key speaker on applicable Laws in Pakistan and IFRSs at different corporate and academic forums

Rana Shakeel Shaukat (Member)

Mr. Rana Shakeel Shaukat is Company Secretary of all Companies within Treet Group. He is Fellow Member of Institute of Chartered Secretaries and Manager. He is Certified Chartered Secretary. His professional qualification is MBA and has vast experience in Corporate Matters, Secretarial Practices & Legal Compliance. He joined Treet Group of Companies in 2013. He conducted lot of workshops in respect of Code of Corporate Governance and Compliance. He participated 22nd Annual International Institute for Securities Enforcement and Market Oversight in Washington DC, America and received best corporate award from United States Securities and Exchange Commission, USA