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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.

Mahfuz-ur Rehman Pasha (Chairman)

Mr. Pasha is working as CEO, Pak-Gulf Leasing Company Limited. Before joining the corporate world Mr. Pasha had the honour to serve the provincial Government of KPK as well as the Federal Government for a period of 39 years i.e. Mr. Pasha has served in the communication & work Department of KPK province as Assistant Executive Engineer from 1973-1981. In this position he was actively engaged in the budgeting & execution of various development projects big & small.

In Sept 1981 he joined the civil services of Pakistan (Initially Income Tax group later renamed as Inland Revenue Service). In the course of his service he has served as Deputy Commissioner, Additional Commissioner & Commissioner in various branches of the service i.e. Audit, Enforcement, Legal, Tax Facilitation & Human Resource Development. In 2011 he retired in BS-21 after having served the Department for 30 years.

He also served as Secretary International Taxes in the Federal Board of Revenue & in this capacity drafted and finalized a number of bilateral tax treaties. As Deputy Secretary, Economic Affairs Division, Ministry of Finance, Government of Pakistan, he actively interfaced with DFIs of Pakistan and their respective foreign investment agencies, besides various international multilateral financial institutions. He is also serving a director on the BOD at National Powers Parks Management Company Ltd. & Kaghan Development Authority.

Shuja Malik (Senior Vice Chairman)

An accounting and finance graduate from the UK, Mr. Shuja Malik has experience of over 20 years in the financial sector, import and marketing of agro chemicals and pharmaceutical manufacturing and marketing. Mr. Malik is currently serving on the boards of First UDL Modaraba and IBL Healthcare Limited. He has previously also served on the boards of Public Listed companies including Searle Pakistan Limited and United Brands Limited. Presently he is working as CEO of First UDL Modaraba.

Irfan Ahmed (Vice Chairman)

Working as CEO of Primus Leasing Limited (PLL), a wholly owned subsidiary of Pak Brunei Investment Company Limited (PBICL). PLL is formed to provide fixed capital finance for the needs of industrial/ service sectors with major focus on SME’s. Became part of PBICL in Sep 2016 with an objective of assisting in business development and more specifically, run a proposed leasing company. Helped PBICL in portfolio development with a focus on SME sector.

Started professional career by joining ORIX Leasing Pakistan Limited in 1991 and steadily progressed to be among the senior echelon. ORIX Pakistan is an Industry Leader and the only multinational leasing company operating here. It is a part of ORIX Corporation, Japan, a leading integrated financial services & real estate company with assets of approximately US$ 100 billion. It is headquartered in Tokyo and has offices & affiliates in 26 countries.

In Pakistan, ORIX is present in 30 cities with 35 branch offices. It is divided into North & South regions; North has been the growing region and accounts for 75% portfolio with 33 branches. ORIX Pakistan also served as the head of MENACA region for ORIX Japan till 2011, comprising of Middle East, North Africa, & Central Asian countries.

Syed Wajih Hassan (Member)

Syed Wajih Hassan is Fellow of Chartered Accountant. He holds 20+ years of professional experience serving in MNC’s including leading Financial Institutions and IT companies at middle to senior level positions, before joining as CEO of First Paramount Modaraba. Having vast experience in the field of business and finance, Wajih has been instrumental in introducing new ventures to the Modaraba using Musharika and Modaraba modes of investments.

Muhammad Tahir Butt (Member)

Working as CEO, Grays Leasing Limited and Director of Administration and Finance in Grays of Cambridge (Pakistan) Limited. He has been holding this post since 1987. He is also the Director of Production in Anwar Khawaja Industries (Private) Limited and has held this directorship since 1978. He has served as Sales Manager for 8 years in Service Sales Corporation.

With his guidance as Director Finance and Administration, Grays of Cambridge (Pakistan) Limited has built up an excellent portfolio of liquid investments. Mr. Butt has also attended many courses, seminars and workshops on Management and Market Research and Analysis.

Amir Zia (Member)

Mr. Amir Zia is a qualified accountant from Chartered Institute of Management Accountant (CIMA – UK).

He is Chief Executive Officer of LSE Financial Services Limited. He has vast experience and exposure in strategic planning, industry analysis, financial/economic analysis & project evaluation, treasury management, international trade and international trade finance. His expertise also lies in financial and non-financial reporting, tax management, stock/fixed income securities analysis & trading, financial restructuring (including debt/equity restructuring/ balance sheet repositioning & capital restructuring), financial engineering and corporate affairs.

Mr. Amir Zia has more than 25 years rich and proven working experience of industry. Before joining as CEO of the LSE Financial Services Limited, he had worked as group CFO of Treet Group of Companies and held directorship of various listed/unlisted companies.

Mr. Amir Zia is Chairman/Independent Director on the board of Oilboy Energy Limited {Ps ticker: OBOY}.

Ghazanfar Farrokh (Member)

Mr. Ghazanfar Farrokh is LLM from Osgoode Hall Law School York University Canada having over twenty years of experience in the field of Law and Management. Presently he is working as Director, First Elite Capital Modaraba.

Rashid Matin Khan (Member)

Mr. Rashid Matin Khan is qualified cost and management accountant, having 25 years of vast experience of Modaraba, Currently he is working with Modaraba Al-Mali and Heads the Finance, and he has attended various seminars and workshops on Islamic financing.

Shakeel-ur Rehman (Member)

25+ years of experience in the field of Banking; specialized in Credit Risk, Operational Risk, Fraud Risk, Compliance, Internal Audit & Internal Control Functions. Previously headed risk roles at Bank Alfalah, MCB and Standard Chartered Bank. He now Heads Risk & Compliance at Finja Lending Services Limited since 2018.

Muhammad Adnan Shakeel (Member)

Serving as the Chief Financial Officer & Company Secretary of Sindh Modaraba. Mr. Adnan commenced his career in 2008. He has nearly 14 years of diversified working experience in various senior positions in Modaraba and the Auditing sector. He has an extensive exposure in financial forecasting, IFRS standards, budgeting, planning and secretarial compliance.

He is a CA-finalist and a member of Pakistan Institute of Public Finance Accountants (PIPFA). He holds Bachelor’s Degree in Commerce and has a procurement certification from Sindh Public Procurement Regulatory Authority (SPPRA). Prior to joining Sindh Modaraba, he remained associated with Grant Thornton Anjum Rehman, Chartered Accounts.