The 14th Annual General Meeting of the Association held on September 26, 2024 at the Conference Hall of the Association as well as through Zoom video link.
The AGM considered and adopted the Audited Financial Statements of the Association for the year ended June 30, 2024 together with Chairman’s Report and Auditor’s Report and approved the appointment of M/s. Jawed Abdul Ghaffar & Co., Chartered Accountants as Auditor for the year ended June 2025.
The AGM also considered and unanimously approved the increase in the Annual Subscription and Entrance Fee, as recommended by EC in its 94th meeting held on August 28, 2024, on the basis of Paid-up Capital with effect from April 2025 and onward.
As per Election Results, Mr. Basheer A. Chowdry has been elected Chairman of the Association for two years term commencing October 2024 to September 2026 where as Mr. Yasir Ashfaq and Mr. Aftab Afroz Mahmoodi have been elected Senior Vice Chairman and Vice Chairman of NBFI & Modaraba Association of Pakistan respectively.
Mr. Mahfuz-ur Rehman Pasha, the outgoing Chairman, in his address at the AGM, outlined the challenges facing the Sector and the efforts made for their resolution. He also congratulated to the newly elected Office Bearers and Executive Committee Members.
Mr. Basheer A. Chowdry, the incoming Chairman in his concluding remarks at AGM, expressed his deep gratitude to outgoing Chairman Mr. Mahfuz-ur-Rehman Pasha and his team for their remarkable leadership. He acknowledged his efforts made for the significant progress in strengthening the NBFI and Modaraba sector. He said that the newly elected Executive Committee with the co-operation and co-ordination of the Members of the Association will put in their best efforts to resolve the sector’s issues.
