Nov 01, 2013
The Board of Directors of Habib Bank Financial Services (Pvt) Limited (HBFSL) in their meeting held on 29th October, 2013 have approved the financial statements of First Habib Bank Modaraba (FHBM) for the quarter ended September 30 2013.
Oct 01, 2013
The Board of Directors of the management company have proposed a final profit distribution of Rs. 1.475 per certificate, amounting to total profit distribution of Rs. 58.56 million (2013: Rs. 1.475 per certificate amounting to total profit distribution of Rs. 58.56 million) in their meeting held on September 23, 2013
First Habib Bank Modaraba Business
The Modaraba provides different Islamic financial products viz. Ijarah, Musharika and Morabaha for short as well as long term resource requirements of trade and industry however; the core activity of FHBM is Ijarah of plant, machinery, equipments, automobile and computers. FHBM also invest in listed equity securities, Certificates of Investment, Government of Pakistan Ijarah Sukuks and other high rated Sukuks issued by Public Companies. The Modaraba has more than two decade of experience in Ijarah business.
FHBM is one of the leading players in its sector with a short-term credit rating of A-1+ and medium to long-term credit rating of AA- with stable outlook as per last rating report of JCR-VIS. These ratings reflect adequate capitalization, and the business synergy that the company enjoys with HBL.