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  • The Association Launched Country Report 2020 on Non-Banking and Modaraba sector on 25th January 2021 at IBA Auditorium, Karachi. Dr. Ishrat Husain, Advisor to the Prime Minister was the Chief Guest. Dr. Akber Zaidi, Executive Director IBA & Mr. Farrukh H. Sabzwari, Commissioner, SECP also addressed the participants. Mr. Basheer A. Chowdry, Chairman, presented the Report to Dr. Akber Zaidi.

 

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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