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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

 

SECP Chief Inaugurates Islamic Financing facility centre in Rawalpindi

The Chairman SECP, Zafar Hijazi, on Thursday the 1st December 2016 inaugurated an Islamic financing facility centre in Rawalpindi, which will help the common people to avail themselves of affordable financing on Islamic Sharia principles to buy motorcycles and other products in due course of time.

The centre will be operated initially by four Modarabas i.e. Allied Rental Modaraba, First Habib Modaraba ORIX Modaraba and Trust Modaraba. They will provide micro-financing to the customers at cheaper rate ranging between 20 to 25% as against the prevalent market rates of 40 to 45%.



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