1 Year Book 2016 2 Year Book 2016 Contents 1 Vision, Mission, Our Values & Core Objective 4 2 International & Regional Associations 6 3 Association’s Secretariat 7 4 Executive Committee Members 10 5 Messages Ÿ Mr. Mohammad Ishaq Dar 14 Ÿ Mr. Zafar Ul Haq Hijazi 15 Ÿ Jawed Hussain 16 Ÿ Ayaz Dawood 17 6 Secretary General’s Report 20 7 Articles Ÿ Financial Companies Sponsored By Government Of Sindh 28 Ÿ Islamic Finance of Pakistan: A journey of continuous success 31 8 Events and Activities Ÿ Launching Ceremony Of Year Book 2015 36 Ÿ Best Performance Awards – 2015 37 Ÿ Sixth Annual General Meeting (AGM) 39 Ÿ First Extra-Ordinary General Meeting 40 Ÿ Workshop On “Practical Problems In Ijarah And Diminishing Mushraka (DM)” 41 Ÿ Workshop On “Zakat, Its Salient Features And Calculation” 42 Ÿ Workshop On ‘SUKUK’ 43 Ÿ Workshop On Companies Ordinance, 2016 44 Ÿ Presentation On Mandatory Certification 44 Ÿ Role Of The Association For The Growth And Awareness Of Modaraba Sector 45 Ÿ IBA-CEIF 45 Ÿ Central Depository Company (CDC) 46 Ÿ IBA CEIF – Round Table Session 47 Ÿ Presentation To Chinese Delegation On Modaraba Sector 48 Ÿ The Policy Dialogue On Islamic Capital Market And Takaful 49 Ÿ Financing Facility Centre At Rawalpindi 50 Ÿ Islamic Finance Centre At Sarmayakari Markaz, Abbottabad 51 Ÿ The Federation Of Pakistan Chambers Of Commerce & Industry (FPCCI) 53 Ÿ FPCCI Standing Committee Meeting On NBFI & Modaraba 54 Ÿ Presentation On Agri Financing 55 Ÿ Media Participation 56 Ÿ Achievements Of Members 57 9 Association in Media 60 10 Merger & Acquisition 64 11 Macro Perspective Ÿ Sectors Performance 68 Ÿ Statistical over view 74 12 Top ten members 76 13 Members at a Glance Ÿ Financial Overview 80 Ÿ Comparative position of payout 81 Ÿ Market Capitalization 82 13 Members Profiles 84 14 Glossary 122 15 Members’ Directory 128 16 Advertisements 135 3 Year Book 2016 VVViiisssiiiooonnn To serve as an effective platform for the members of NBFI and Modaraba sector, to facilitate the growth, profiling and competitive power of NBFI & Modaraba Association members through collective and coordinated efforts. MMMIIISSSSSSIIIOOONNN SSSTTTAAATTTEEEMMMEEENNNTTT To provide effective forum to address common and/or relevant issues, make available necessary support, facilitate to succeed through effective liaison, appropriate counselling, product innovation, research, capacity building and create conducive working environment based on trust, integrity and reliability. 4 Year Book 2016 Our Values Collaboration Integrity Fairness Excellence Responsiveness Core Objective Ÿ To represent, profile and promote NBFI and Modaraba industry and protect the interest of Members. Ÿ To encourage Islamic trade and finance through Modaraba venture and provide innovative Shariah compliant financial solutions for further progress and growth of the Modaraba sector. Ÿ To maintain an active coordination and a relationship of trust with the regulatory authorities to achieve a consultative and supportive regulatory environment. Ÿ To support environment where members work together to solve common challenges by sharing ideas and helping & supporting each other. Ÿ To migrate best international practices and make information and analysis available on the profile and performance of individual members and the sector. Ÿ To broaden the base of association through induction of new members from different segments within the NBFIs sector. Ÿ To promote good governance, encourage performance based culture within members. Ÿ To enhance professional capacity of members through workshops, seminars and interactive sessions. 5 Year Book 2016 INTERNATIONAL & REGIONAL ASSOCIATIONS IIINNNTTTEEERRRNNNAAATTTIIIOOONNNAAALLL FFFIIINNNAAANNNCCCEEE &&& FFFEEELLLAAALLLEEEAAASSSEEE --- FFFEEEDDDEEERRRAAACCCIIIOOONNN LLLEEEAAASSSIIINNNGGG AAASSSSSSOOOCCCIIIAAATTTIIIOOONNN LLLAAATTTIIINNNOOOAAAMMMEEERRRIIICCCAAANNNAAA DDDEEE LLLEEEAAASSSIIINNNGGG NNNaaa PPPaaannnkkkrrraaaccciii 333111000///666000,,, 111444000 000000 PPPrrraaahhhaaa 444,,, CCCaaarrrrrreeerrraaa 111111 NNNooo...888666---333222,,, OOOfffiiiccciiinnnaaa 555000222,,, CCCzzzeeeccchhh RRReeepppuuubbbllliiiccc BBBooogggoootttaaa,,, CCCooolllooommmbbbiiiaaa TTTeeelll::: +++444222000 666000222222333111444999555 TTTeeelll::: +++555777111 555333000000 666888111 FFFaaaxxx::: +++444222000 222222222 000111222 333666333 EEE---mmmaaaiiilll::: fffeeelllaaallleeeaaassseee@@@fffeeelllaaallleeeaaassseee...ooorrrggg EEE---mmmaaaiiilll::: mmmaaannndddyyysss@@@cccsssooobbbllleeeaaasssiiinnnggg...ccczzz WWWeeebbbsssiiittteee::: wwwwwwwww...fffeeelllaaallleeeaaassseee...ooorrrggg WWWeeebbbsssiiittteee::: wwwwwwwww...iiiffflllaaa...cccooommm LLLEEEAAASSSEEEUUURRROOOPPPEEE,,, TTTHHHEEE EEEUUURRROOOPPPEEEAAANNN FFFEEEDDDEEERRRAAATTTIIIOOONNN AAASSSIIIAAANNN FFFIIINNNAAANNNCCCIIIAAALLL SSSEEERRRVVVIIICCCEEESSS OOOFFF LLLEEEAAASSSIIINNNGGG CCCOOOMMMPPPAAANNNYYY AAASSSSSSOOOCCCIIIAAATTTIIIOOONNNSSS AAASSSSSSOOOCCCIIIAAATTTIIIOOONNN (((AAAFFFSSSAAA))) BBBooouuullleeevvvaaarrrddd LLLooouuuiiisss SSSccchhhmmmiiidddttt 888777,,, BBB --- 111000444000 EEEiiiggghhhtttyyyEEEiiiggghhhttt@@@KKKaaasssaaabbblllaaannnkkkaaa,,, TTTooowwweeerrr AAA,,, 777ttthhh FFFllloooooorrr,,, BBBrrruuusssssseeelllsss,,, UUUnnniiittt DDD,,, JJJIII... CCCaaasssaaabbblllaaannncccaaa KKKaaavvvllliiinnnggg 888888,,, BBBeeelllgggiiiuuummm JJJaaakkkaaarrrtttaaa SSSeeelllaaatttaaannn 111222888777000,,, TTTeeelll::: +++333222 222 777777888 000555 666000 IIInnndddooonnneeesssiiiaaa FFFaaaxxx::: +++333222 222 777777888 000555 777888 TTTeeelll::: +++666222 222111 222999888222 000111999444 EEE---mmmaaaiiilll::: aaa...vvvaaallleeetttttteee@@@llleeeaaassseeeuuurrrooopppeee...ooorrrggg FFFaaaxxx::: +++666222 222111 222999888222 000111999111 WWWeeebbbsssiiittteee::: wwwwwwwww...llleeeaaassseeeuuurrrooopppeee...ooorrrggg EEE---mmmaaaiiilll::: ssseeecccrrreeetttaaarrriiiaaattt@@@aaafffsssaaawwwooorrrlllddd...ooorrrggg WWWeeebbbsssiiittteee::: wwwwwwwww...aaafffsssaaawwwooorrrlllddd...ooorrrggg NNNBBBFFFIII &&& MMMOOODDDAAARRRAAABBBAAA AAASSSSSSOOOCCCIIIAAATTTIIIOOONNN OOOFFF PPPAAAKKKIIISSSTTTAAANNN 666000222,,, PPPrrrooogggrrreeessssssiiivvveee CCCeeennntttrrreee,,, 333000---AAA,,, BBBllloooccckkk---666,,, PPPEEECCCHHHSSS,,, SSShhhaaahhhrrraaahhh---eee---FFFaaaiiisssaaalll,,, KKKaaarrraaaccchhhiii---777555444000000,,, PPPaaakkkiiissstttaaannn TTTeeelll::: 999222---222111---333444333888999777777444,,, 333444333222222444444000 FFFaaaxxx::: 999222---222111---333444333888999777777555 EEE---mmmaaaiiilll::: aaassssssoooccciiiaaatttiiiooonnn@@@nnnbbbfffiii---mmmooodddaaarrraaabbbaaa...cccooommm...pppkkk WWWeeebbbsssiiittteee::: wwwwwwwww...nnnbbbfffiii---mmmooodddaaarrraaabbbaaa...cccooommm...pppkkk 6 Year Book 2016 ASSOCIATION’S SECRETARIAT Muhammad Samiullah Secretary General Mr. Muhammad Samiullah, Secretary General, holds a master degree in Economics, L.L.B, DAIBP, PGD in Islamic Finance & Banking having a vast experience of banking and financial sector. Prior to joining Modaraba Association of Pakistan in 2001, he was Company Secretary, First Habib Bank Modaraba. He also officiated as Chief Executive of First Habib Bank Modaraba for quite some time. He was appointed as Chairman, FPCCI Standing Committee on NBFI & Modaraba for the year 2016. He was an active Member of FPCCI, Standing Committee for Islamic Banking & Takaful during the year 2016 and will continue the position for the year 2017 as well. He is also a Member of Arbitration Panel of Pakistan Stock Exchange Limited. Registered Office 602, Progressive Centre, 30-A, Block-6, P.E.C.H.S., Shahrah-e-Faisal, Karachi-75400, Pakistan Phone: (92-21) 34389774, 34322440 Fax: (92-21) 34389774 E-mail: [email protected] Website: www.nbfi-modaraba.com.pk Auditors Baker Tilly Mehmood Idrees Qamar Chartered Accountants Tax Advisor Shekha & Mufti Chartered Accountants Legal Advisor Mohsin Tayebaly & Co. Advocates & Legal Consultants Bankers BankIslami Pakistan Limited 7 Year Book 2016 8 Year Book 2016