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  • 13th Annual General Meeting of the Association held on 05th October 2023, Office Bearers (Mr. Mahfuz-ur Rehman Pasha, Chairman, Mr. Shuja Malik, Senior Vice Chairman and Mr. Irfan Ahmed, Vice Chairman) will continue to be the Office Bearers till 30-09-2024.
  • Mr. Mahfuz-ur Rehman Pasha has been elected Chairman for the Year 2022-23 where as Mr. Shuja Malik and Mr. Irfan Ahmed has been elected Senior Vice Chairman and Vice Chairman of NBFI & Modaraba Association of Pakistan respectively as per Election Results announced in the 12th AGM held on September 2022
  • The Association Launched Year Book 2021 on 14th July 2022 through zoom video link as well as physically at the Association's Secretariat, Karachi. Mr. Aamir Khan, Chairman, SECP was the Chief Guest. Ms. Farrukh H. Sabzwari, Commissioner, Ms. Sadia Khan, Commissioner, SECP, Mr. Tariq Naseem, Registrar Modaraba, SECP, Ms. Khalida Habib, Executive Director and other senior members of the SECP. Chief Executives of Modarabas, Leasing Companies, Investment Finance Services and senior officials from other financial entities also participated. The year Book was presented to the Chief Guest by Ms. Khalida Habib and Mr. Tariq Naseem on behalf of the Association as the ceremony was arranged on zoom video link.

News Room

 

Launching Ceremony of Year Book 2015 & Distribution of Best Performance Awards 2015

NBFI & Modaraba Association of Pakistan arranged a launching ceremony of Year Book 2015 & Distribution of Best Performance Awards 2015 on Thursday the March 17, 2016 at Movenpick Hotel, Karachi.

Mr. Zafar Abdullah, Commissioner (SCD), SECP was the Chief Guest, while Mr. Shahid Nasim, Mr. Imran Inayat Butt, Executive Director and Mr. Shahid Mahmood, Registrar Modaraba from SECP and Mr. S. Khalid Tawab, Senior Vice President, FPCCI participated in the ceremony. The ceremony was attended by CEOs of Modarabas, Leasing Companies, Investment Banks and other guests.

Mr. Mahfuz-ur Rehman Pasha, Chairman, NBFI & Modaraba Association of Pakistan addressed the ceremony and presented the Year Book to the Chief Guest Mr. Zafar Abdullah.

The Chief Guest distributed the Awards to the following winning top five best performers of NBFI & Modaraba sectors for the year ended 30th June, 2015:

First Position

ORIX Leasing Pakistan Limited - Mr. Ramon Alfrey, CFO received the Award.

Second Position

Allied Rental Modaraba - Mr. Murtaza Ahmed Ali, CEO, received the Award.

Third Position

First Habib Modaraba - Mr. Muhammad Shoaib Ibrahim, CEO, received the Award

Fourth Position

Standard Charted Modaraba - Mr. Raheel Q. Ahmad, CEO received the Award

Fifth Position

First UDL Modaraba - Mr. Ather Naqi, CEO received the Award

The Association also awarded a Special Award to Mr. Teizoon Kisat, former CEO, ORIX Leasing Pakistan Limited for his meritorious services to the leasing sector.

Workshop on Practical Problems in Ijarah & Diminishing Musharaka

NBFI & Modaraba Association of Pakistan organized a workshop on “Practical Problems in Ijarah & Diminishing Musharaka” on Tuesday the 15th March 2016 at the Conference Hall of the Association, Karachi. Mufti Ibrahim Essa, Shariah Advisor of ORIX Leasing Pakistan Limited conducted the Workshop.

In addition Mr. Intisar M. Usmani, Head of Credit, First Habib Modaraba the Industry Expert share his practical experience with the participants.14 participants attended the workshop.

SECP has extended the date of compliance to February 15, 2016 for updating websites in Urdu Language

ISLAMABAD: After receiving numerous complaints from companies that maintaining specific information in Urdu language at their websites was a difficult task, the Securities and Exchange Commission of Pakistan (SECP) has extended the date of compliance in this regard for listed and unlisted public companies to Feb 15, 2016.

Earlier, the SECP vide SRO1222 had directed public listed and unlisted companies to ensure provision of information of public interest including objectives, status, registration number, contact details of important persons, profiles of Board of Directors, name of auditor of company in Urdu and English on their websites with effect from Jan 1, 2016.
Published in Dawn, January 5th, 2016”

Meeting with world bank team

A meeting was held on 8th December, 2015 at the office of SECP with World Bank Group (WGB) led by Mr. Gabi George Afram, Program Leader, Private Sector Development to discuss the growth, issues and future outlook of NBFI & Modaraba Sector in Pakistan.

Mr. Mahfuz-ur-Rehman Pasha, Chairman, NBFI & MAP, Mr. Basheer A. Chowdry, Mr. Muhammad Shoaib Ibrahim, Ms. Effat Assad and Mr. Muhammad Samiullah attended the meeting and highlighted the performance and achievements, issues and constraints of the NBFI & Modraba Sector.

Workshop on Islamic Finance

NBFI & Modaraba Association of Pakistan organized a Workshop on “Islamic Finance” on Thursday the 19th November 2015 at Pearl Continental Hotel, Karachi. Mr. Mahfuz-ur-Rehman Pasha, Chairman, NBFI & Modaraba Association of Pakistan inaugurated the workshop. Mufti Irshad Ahmad Aijaz, Chairman Shari'ah Board, BankIslami Pakistan Limited and Mufti Zeeshan Abdul Abdul Aziz, Shariah Advisor of Sindh Modaraba conducted the Workshop. The Workshop was designed for the Directors and Senior Executives of the NBFI & Modaraba sector. The certificates were given to the participants by Mr. Mahfuz-ur-Rehman Pasha, Mr. Basheer A. Chowdry and Mr. Muhammad Shoaib Ibrahim jointly.

MoU Signing Ceremony

NBFI & Modaraba Association of Pakistan & Pak-Qatar General Takaful Limited signed an MoU on 30th September 2015 for providing Takaful coverage on the basis of Islamic modes to the members of the Association.

Mian Muhammad Adrees, President, The Federation of Pakistan Chambers of Commerce & Industry was the Chief Guest of the above event which was largely attended by the Senior Officials of Modarabas and Takaful sectors.

Interview of Mr. Muhammad Shoaib Ibrahim, Chairmain & Mr. Muhammad Samiullah, Secretary General, NBFI & Modaraba Association of Pakistan

Mr. Muhammad Shoaib Ibrahim, Chairman and Mr. Muhammad Samiullah, Secretary General, NBFI & Modaraba Association participated in a discussion program on “Concept of Modaraba & Modaraba Regulations, 2015” on Business Plus Channel on 22nd September, 2015. Mr. Khalil Ahmed, Anchor Person discussed various questions on the topic which were replied by both the participants. Click here to view the interview

Best Corporate Report Award– 2014

Joint Committee of Institute of Chartered Accountant of Pakistan (ICAP) and Institute of Cost & Management Accountant Pakistan (ICMAP) in their ceremony held on 4th September, 2015, has awarded “Best Corporate Report Award” to First Habib Modaraba (FHM) and secured “First Position” under the category of NBFIs. FHM has been receiving best corporate report award since last six consecutive years.

Workshop on Islamic Modes of Financing

NBFI & Modaraba Association of Pakistan is organizing one day workshop on “Islamic Modes of Financing” for Directors and Senior Executives of NBFI & Modaraba Sectors on Tuesday 18th August 2015.

The workshop will be conducted by Senior Shariah Scholars including Mufti Irshad Ahmed Aijaz, Mufti Muhammad Najeeb Khan, Mufti Ibrahim Essa, Mufti Abdul Sattar Laghari and Mufti Zeeshan Abdul Aziz.

The Association have specially invited Mr. Bilal Rasul, Executive Director & HOD of Islamic Finance Department, SECP who will discuss the Shariah Compliance and its regulatory aspects.

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. Fida Hussain Samoo, Commissioner, Insurance, SECP was the Chief Guest, while Mr. Shahid Nasim and Mr. Tariq Soomro from SECP participated the ceremony. The ceremony was attended by CEOs of Modaraba, Leasing Companies, Investment Banks and other guests.

Mr. Muhammad Shoaib Ibrahim, Chairman, NBFI & Modaraba Association of Pakistan addressed the ceremony and presented the Year Book to the Chief Guest Mr. Fida Hussain Samoo.

Distribution of Best Performance Awards

Best Performance Award Ceremony of NBFI & Modaraba Association of Pakistan held on Thursday February 26, 2015 at Pearl Continental Hotel, Karachi. Mr. Fida Hussain Samoo, Commissioner, Insurance, SECP distributed the Awards to the following members:

First Position

    Allied Rental Modaraba    Mr. Murtaza Ahmed Ali, CEO, received the Award.

Second Position

    ORIX Leasing Pakistan Limited    Mr. Teizoon Kisat, CEO received the Award.

Third Position

This year two members have acquired third positions by getting equal marks i.e. 75% each as such both the members have been given third position joint awards.

    Standard Charted Modaraba    Mr. Raheel Q. Ahmad, CEO received the Award

    First Habib Modaraba    Mr. Muhammad Shoaib, CEO, received the Award

Welcome Shield

During the year 2014-15 two new members joined the NBFI & Modaraba Association of Pakistan one Leasing Company and one Modaraba.

Sindh Leasing Company Limited - Mr. Naim Farooqui, CEO received the welcome shield

Sindh Modaraba - Mr. Jawed Iqbal, CEO received the welcome shield

 Election Results 2014-15

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

NBFI & Modaraba Association of Pakistan arranged a launching ceremony of Year Book 2013 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.

Mr. Murtaza Ahmed Ali, Chairman, NBFI & Modaraba Association of Pakistan address the ceremony.

Mr. Murtaza Ahmed Ali, Chairman presented the Year Book to the Chief Guest Mr. Imtiaz Haider.

Distribution of Best Performance Awards

Best Performance Award Ceremony of NBFI & Modaraba Association of Pakistan held on Friday January 10, 2014 at Karachi Marriott Hotel. Mr. Imtiaz Haider, Commissioner, Specialized Companies Division, SECP distributed the Awards to the following members:

First Position
  First Habib Modaraba
  Mr. Muhammad Shoaib, CEO, received the Award.

Second Position
  Allied Rental Modaraba
  Mr. Murtaza Ahmed Ali, CEO, received the Award.

Third Position
  ORIX Leasing Pakistan Limited
  Mr. Teizoon Kisat, CEO received the Award.

Turnaround Performance Category

  1. Saudi Pak Leasing Company Limited
         Mr. Ahsanullah Khan, CEO received the Award.
  2. Invest Capital Investment Bank Limited
         Mr. Muhammad Asif, CEO received the Award.


Growth in the Assets Category
  Standard Chartered Modaraba
  Mr. Raheel Q. Ahmad, CEO received the Award

Highest Cash Dividend Category
   First Imrooz Modaraba
   Mr. Nayyar Javeed, General Manager received the Award.

 

Workshop on “Risk Management”

NBFI & Modaraba Association of Pakistan organised a one day workshop on “Risk Management” on December 12, 2013 at the Conference Hall of the Association.

Meeting with the delegation of Mauritius

On November 20, 2013 a delegation from Mauritius along with the representatives of Meezan Bank Limited visited the office of NBFI & Modaraba Association of Pakistan.

Dinner to the participants of the Workshop

On November 18, 2013 NBFI & Modaraba Association of Pakistan arranged dinner to the participants of the two days workshop “Islamic Financial Products and Risk Management for Islamic Financial Institution” at Karachi Marriott Hotel.

Election Results 2013-14

Mr. Murtaza Ahmed Ali has been elected Chairman for the Year 2013-14 while Mr. Ahsanullah Khan as Senior Vice Chairman and Mr. Khaqan Hasnain Ibrahim as Vice Chairman of NBFI & Modaraba association of Pakistan.

3rd Annual General Meeting

3rd Annual General Meeting of the Association was held on 20th September 2013 at the Conference Hall of the Association.

Launching Ceremony of Year Book 2012

NBFI & Modaraba Association of Pakistan arranged a launching ceremony of Year Book 2012 on Monday the 8th July 2013 at Sheraton Karachi Hotel.

Mr. Asif Jalal Bhatti, Mr. Shahid Nasim, Mr. Jawed Hussain and Mr. Shahid Mahmood participated. The ceremony was attended by CEOs of Modaraba and Leasing sectors.

Mr. Raheel Q. Ahmad, Chairman, NBFI & MAP presented the Year Book to the Chief Guest Mr. Shahid Nasim.

Performance Awards were given to:

  1. Allied Rental Modaraba
         Mr. Faisal Ali, Director, ARM received the Award.
  2. First Habib Modaraba
         Mr. Muhammad Shoaib, CEO, received the Award.
  3. ORIX Leasing Pakistan Limited
         Mr. Teizoon Kisat, CEO received the Award.
  4. Standard Chartered Modaraba
         Mr. Raheel Q. Ahmad, CEO received the Award.
  5. First Habib Bank Modaraba
         Mr. Shabi Hasan, CFO & CS received the Award.
  6. Award was also given to Modaraba Al-Mali for completing 25 Years of its operation.

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