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  • Mr. Basheer A. Chowdry has been elected Chairman for the Year 2017-18 while Mr. Muhammad Naimuddin Farooqui as Senior Vice Chairman and Dr. Fakhara Rizwan as Vice Chairperson of NBFI & Modaraba association of Pakistan.
  • The 7th Annual General Meeting of the Association held on 26th September 2017 at the Conference Hall of the Association.
  • Mr. Ayaz Dawood has been elected Chairman for the Year 2016-17 while Mr. Murtaza Ahmed Ali as Senior Vice Chairman and Mr. Rashid Kamal Siddiqui as Vice Chairman of NBFI & Modaraba association of Pakistan.
  • 6th Annual General Meeting of the Association held on 21st September 2016 at the Conference Hall of the Association.
  • 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 2017-2018

Mr. Basheer A. Chowdry (Chairman)

 
Mr Basheer Chowdry is a seasoned banker having a rich and diverse experience of international, domestic, investment and Islamic banking. Mr. Chowdry brings with him over 50 years experience of financial and corporate management in overseas and local markets besides playing a significant role in the NBFI and Modaraba sector of Pakistan. He has participated in establishment and development of well-known financial institutions and has been serving on the boards of various commercial, Islamic and investment banks, leasing companies, Modarabas, stock exchanges, corporate entities and international organizations.

Mr. Chowdry has been closely involved in the evolution of non-banking financial regime in Pakistan with focus on Islamic finance. He particularly participated in the development of leasing and Modaraba entities by leading key institutions and introducing well-researched and innovative products and services. In his role as the Chairman NBFI and Modaraba Association of Pakistan for many tenures, Mr Chowdry has been engaged in promoting market dynamics and assisting in developing an enabling regulatory framework of non-banking financial sector. He also participates in various welfare and philanthropic activities aimed at health and educational needs of the underprivileged communities.

Currently Mr Chowdry is Chief Executive of Trust Modaraba. He is a director of Saudi Pak Real Estate Limited and is a member of the Executive Committee of Federation of Pakistan Chambers of Commerce and Industry.
 

Mr. M. Naimuddin Farooqui (Senior Vice Chairman)

 
Mr. Naim Farooqui is Director & Chief Executive Officer of Sindh Modaraba Management Limited. He has served as the CEO of SLCL, Chief Operating Officer and subsequently as the President of Sindh Bank Ltd. His experiences in other financial institutions include ORIX Investment Bank (OIB) as its Chief Executive Officer (1998-2009). During his association with OIB he served as a Director on the Board of ORIX Leasing Pakistan Ltd. He has also served as Managing Director, Operations, Asian Finance and Investment Corporation Ltd., Manila, Philippines (an affiliate of Asian Development Bank). He started his career in Financial Institutions with National Development Finance Corporation in 1983. Prior to this he served as an engineer in the United States.

He is an MBA from Texas Southern University, and also holds a Bachelor of Science Degree in Industrial Engineering from the University of Houston, USA. He has an overall financial institutions experience of more than 32 years mainly in Corporate and Investment Banking.

Dr. Fakhara Rizwan (Vice Chairperson)

 
Dr. Fakhara is a qualified corporate lawyer, distinguish to be the only Pakistani having doctorate on the subject of “Banks role as independent advisor in takeovers and mergers of public companies –a comparative study of Pakistan and Malaysia”. She did her L.L.B from SM Law College (University of Karachi), then L.L.M Business Law from International Islamic University Malaysia; leading to Ph.D. Corporate Laws from the same institution.

During her practice in Malaysia for almost six years, she had been providing consultancy to Pakistan High Commission and several renowned corporate entities as retainer lawyer. She was the only foreign member of the Constitutional Committee of Selangor Hockey Association & Selangor Badminton Association in Malaysia.

Her articles on Corporate Laws, particularly on Insider Trading, Frustration of Takeover Offer, Takeover & Merger from Islamic Point of View and Contract during Mortal Sickness are published in renowned Law Journals and newspapers.

She is currently serving as the Corporate Secretary & Head of Legal Department of ORIX Leasing Pakistan Limited. Prior to joining ORIX, she was associated with AlBaraka Bank Pakistan Limited as Company Secretary & Head of Legal Department.

Mr. Aamir Malik (Member)

 
Mr. Aamir Malik joined First Punjab Modaraba on April 29, 2014 as Chief Executive.

He holds Commerce Degree from Punjab University, Master Degree in Business Administration from Virtual University; DAIBP from Institute of Bankers in Pakistan and Certified Director from ICAP.

He has served The Bank of Punjab for over 22 years and has diversified experience of handling banking affairs covering Credit/Risk, Branch Banking, Foreign Trade, Recovery and SAM on different senior management positions.

Mr. Shiraz Butt (Member)

 
Mr. Shiraz Butt holds Master Degree in Business Administration and has an experience of over 18 year in the Modaraba / Leasing and Investment Banking Sectors. Currently he is working as Chief Operating Officer of First IBL Modaraba. Mr. Shiraz started his professional carrier back in 1996 with a leasing company, and in 1999 he moved to Modaraba sector.

He initially worked on corporate financing side and in 2005 he switched to Micro and Small Enterprise (MSE) financing division in a Modaraba for extending Ijarah / Lease / Musharakah / Murabahah facilities to lower income/poor communities in order to enhance/ improve their income stream in collaboration with Swiss Agency for Development and Cooperation (SDC).

Mr. Wasim-ul Haq Osmani (Member)

 
Mr. Osmani, FCA, has over 33 years of experience in accounting profession and financial sector at Senior Management positions. He is associated with the Modaraba since April, 1994. His vast experience in Finance, Accounts, Audit, Investment Banking, Corporate Affairs, Taxation, Funds and Portfolio Management, Project Appraisal, Corporate Restructuring and Insurance business has greatly benefited the Modaraba.

Mr. Osmani is presently heading the First Fidelity Leasing Modaraba as its Chief Executive Officer.

Mr. Aftab Afroz Mahmoodi (Member)

 
Mr. Aftab Afroz Mahmoodi has joined KASB Modaraba as a Chief Executive on March 01, 2017, however, he is associated with the KASB group since 2014. He is an Affiliate- Institute of Chartered Accountants of Pakistan, Fellow Member - Pakistan Institute of Public Finance Accountants and Master of Business Administration – Finance. He has over twenty two years of working experience with financial institutions. Prior to joining KASB he has served in commercial bank/ DFIs and brokerage house in private and public sector.

Syed Liaquat Ali (Member)

 
A fellow member of the Institute of Chartered Accountants of Pakistan having over 38 years of post- qualification experience in various senior positions in foreign /local banks, leasing companies ,insurance and Modaraba.

Major strengths include financial control, tax planning, compliance, risk based auditing, advisory, information controls and security, strategic planning and corporate governance.

Presently he is working as CFO & Company Secretary of SME Leasing Limited. 

Mr. Rehan Anjum (Member)

 
Mr. Rehan Anjum is the Chief Financial Officer and Company Secretary at Sindh Leasing Company Limited (SLCL). He had also served as the CEO for more than seven months in SLCL. He had worked in the capacity of Chief Financial Officer for the company since its inception.

He is a qualified Chartered Accountant having more than 20 years of work experience across a wide spectrum of finance functions at senior levels in the field of finance and risk management in the Financial Services industry. Before joining SLCL, he was working with Standard Chartered Leasing Limited (Pakistan) as CFO & Company Secretary for more than five years. Prior to that, he was running his own financial consultancy and advisory firm.

Mr. Shabbier Ahmed Jamsa (Member)

 
Mr. Shabbir Ahmed Jamsa is currently serving as G.M Taxation/ Legal affairs and Company Secretary in First Imrooz Modaraba. He is a seasoned expert with more than 40 years of experience in Audit, Taxation and Legal matters. He is commerce graduate and done article ship from M.B. Mana & Co. Chartered Accountants. Prior to joining First Imrooz Modaraba, he served as Tax Manager in a law firm M/s Mahmood Law Associates.

Directly reporting to the Board of Directors, he is responsible for ensuring that the organization complies with best practices and maintains standards of Corporate Governance and Shariah Compliance. Mr. Jamsa is also handling taxation, legal and corporate affairs.

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