Sindh Modaraba commenced its operations in February 2015.
Sindh Modaraba is a perpetual and multi purpose Modaraba formed under the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980.
Sindh Modaraba is an Islamic Financial Institution providing Shariah Compliant Services to its clients.
Sindh Modaraba is managed by Sindh Modaraba Management Limited which holds 94.33% of the certificate holding of Sindh Modaraba and is 100% owned by the Government of Sindh.
The registered office of the Sindh Modaraba Management Limited is at 1st floor, Imperial Court, Dr. Ziauddin Ahmed Road, Karachi.
Sindh Modaraba Management Limited
5
OWNERSHIP STRUCTURE
Government of Sindh
100%
Sindh Modaraba Management Limited
General Public
94.33%
5.67%
Sindh Modaraba
Sindh Modaraba Management Limited
6
GOVERNANCE
Sindh Modaraba Management Limited
7
REGULATORY FRAMEWORK (SECP REGULATOR)
Modaraba Companies and Modarabas (Floatation & Control) Ordinance, 1980
Modaraba Companies and Modaraba Rules, 1981
Modaraba Regulation, 2021
Public Sector Companies (Corporate Governance) Regulations, 2013
Attention: This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
Original Link
Original Document
Permalink
Disclaimer
Sindh Modaraba Management Ltd. published this content on 24 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 October 2023 06:55:35 UTC.
Sindh Modaraba Management Limited is a perpetual, multi-purpose and multi-dimensional Modaraba and is engaged in providing Shariah-compliant financing facilities to credit worthy customers. The Company's products include Murabaha, Salam, Ijarah, Diminishing Musharaka, and Housing Finance. Murabaha is a non-participatory mode of Islamic financing where the Company sells the asset required by its client to the client on a cost-plus profit basis. Salam is a short-term agreement, in which a financial institution makes full prepayments for future delivery of a specified quantity of goods on a specified date. Ijarah is an exchange transaction, in which a usufruct of an asset is transferred to a lessee in return for a payment, but where ownership of the asset itself is not transferred. In Diminishing Musharaka contract, a financier and his client participate either in the joint ownership of a property or an equipment. Housing Finance product is based on the concept of Diminishing Musharakah.
SINDH MODARABA 
