Jul 09, 2014
First Habib Bank Modaraba and HBL have, on 9th July, 2014, executed the agreement for acquisition of the Financial Assets by HBL, which acquisition will be completed subject to completion of legal documentation, On completion of the acquisition and receipt of full payment from HBL, the proceeds will be distributed to the certificate holders in sue course, as per rules/regulation
May 28, 2014
Notice for Sale of Financial Assets of First Habib Bank Modaraba (under voluntary winding up)
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.