Year Book 2025 LAUNCHING CEREMONY
NBFI & Modaraba Association of Pakistan on June 08, 2026, officially launched the Year Book 2025 with a remarkable unveiling ceremony, graced by the dignitaries from SECP a substantial number of CEOs and other Executives of the member entities.
Syed Izzat Hussain conducted the session and thanked all the participants, especially the dignitaries from SECP for gracing the ceremony. After recitation and national anthem, he invited the Chairman of his Association for formal welcome speech.
Mr. Yasir Ashfaq, the Chairman of the NBFI & Modaraba Association of Pakistan expressed a warm welcome to Mr. Imtiaz Haider, the Commissioner (Specialized Company Division), SECP and the Chief Guest of the event, Dr. M. Mubbashar Hassan, the Director / Division Head (SCD) SECP and Hafiz Muhammad Wajid Wahidy Joint Director SECP. The summary of his speech is as under:
He welcomed all the dignitaries of SECP and participants of the Sector. He advocated for repositioning of NBFI and Modaraba Sector as central pillars with its pivotal role and not as a peripheral player in Pakistan’s economic development.
On sector performance during 2024-25, he termed the year as a year of expansion showcasing heavy growth in assets (especially in IFS). He, in order for strengthening the NBFI & Modaraba Sector, underscored the need for policy making towards concessional financing access, tax rationalization, and formation of a Consultative Regulatory Group comprising of members nominated by SECP and the Sector.
He extended his sincere appreciation to the SECP and their leadership for their continued engagement and support. He also acknowledged the services and support of the members of the Association and the Executive Committee for their commitment and collective efforts in advancing the interests of this vital sector.
Presentation on Overall Performance of the Sector During 2024-2025:
Ms. Effat Assad, Senior Vice Chairperson of the Association and CFO, Orient Rental Modaraba gave a brief presentation on the performance of the sector and key challenges of the sectors.
Unveiling of Year Book 2025 by Mr. Imtiaz Haider, Commissioner SECP:
Hon’ble Commissioner cut the ribbon open and formally unveiled and launched the Year Book 202.
Thereafter, Mr. Imtiaz Haider, Commissioner (SCD), SECP delivered a speech full of inspiration and motivation with future course of action with a dynamic approach aligned with the requirements of changing environment.
Mr. Haider acknowledged, appreciated the critical role of Non-Banking Financial Institutions in Pakistan’s economy, emphasizing that NBFCs and Modarabas serve segments and communities that banks cannot reach alone, making them indispensable to national financial inclusion. Islamic finance, particularly through Modarabas showed growth in 2025, yet their full potential remains unrealized. The Commissioner SECP reaffirmed its commitment to sector development through ongoing reforms including a major Modaraba legal framework overhaul, advocacy for tax neutrality, and expanded liquidity solutions. Looking ahead, the address issued a clear direction to the member entities to embrace digital transformation, strengthen governance, and pursue Pakistan’s most pressing financing gaps that exists in SMEs, housing, climate, and social investment.
Commissioner (SCD), SECP gave out the Awards and Certificate of Achievements to the top performers of the sector.
During the ceremony accolades were presented to the top performers as detailed below:
- OLP Financial Services Pakistan Ltd.
- First Habib Modaraba
- Pakistan Microfinance Investment Co. Ltd.
1st Position
2nd Position
3rd Position
Additionally, recognition was bestowed upon six other outstanding performers as mentioned hereunder:
- Pakistan Microfinance Investment Company Limited
- First Habib Modaraba
- OLP Modaraba
- Cordoba Financial Services Limited
- Sindh Modaraba
- Walee Financial Services (Pvt) Limited
He appreciated the relationship and interaction of NBFI & Modaraba Association of Pakistan with SECP, emphasizing that effective collaboration and Sector’s feedback are vital for effective policymaking. He congratulated the Association on the Yearbook 2025 launch, award winners and certificate recipients for their best performance in the Sector.
Mr. Misbah Khalil Khan, CEO, Cordoba Financial Services Limited have made the concluding remarks and share his views.
