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  • SECP issued Draft Amendments in Modaraba Companies and Modaraba (Floatation & Control) Ordinance, 1980
  • The NBFI & Modaraba Association of Pakistan announced its Election Schedule for the election of Executive Committee and Office Bearers for the year 2016-2017
  • Mr. Mahfuz-ur Rehman Pasha elected Chairman for the Year 2016-17 while Mr. Shuja Malik as Senior Vice Chairman and Ms. Effat Assad as Vice Chairman of NBFI & Modaraba Association of Pakistan.
  • 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.
  • SECP notified Draft Amendments in Modaraba Companies and Modaraba Rules, 1981

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 Association is a trade body that represents the Modarabas, Leasing Companies and Investment Banks.

The mission of the Association is to provide a forum to the Member 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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Latest News

SECP issued Draft Amendments in Modaraba Companies and Modaraba (Floatation & Control) Ordinance, 1980

Election Schedule

The NBFI & Modaraba Association of Pakistan announced its Election Schedule for the election of Executive Committee and Office Bearers for the year 2016-2017

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.

SECP notified Draft Amendments in Modaraba Companies and Modaraba Rules, 1981

SECP notified draft amendments in Modaraba Companies and Modaraba Rules, 1981 to solicit feedback from stakeholders

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.

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 & Modaraba 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 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.

Election 2015

Mr. Mahfuz-ur Rehman Pasha elected Chairman for the Year 2016-17 while Mr. Shuja Malik as Senior Vice Chairman and Ms. Effat Assad as Vice Chairman of NBFI & Modaraba association of Pakistan.

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, Chairman & 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.

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