Modaraba Companies and Modaraba (floatation
& control) Ordinance was promulgated in 1980 to provide
the statutory framework for organizing business enterprises
according to the injunction of Islam. The new law refined
the Modaraba concept and brought it in conformity with the
prevalent Corporate Structure. To some extent most Modaraba
in Pakistan are like close-ended mutual funds in that they
are exempt from income tax provided they distribute 90%
of their profits as cash dividend among their certificate
holders.
[ read more... ]
Chairman's Review
I am pleased to present tenth MAP Book
2007 of the Modaraba Association of Pakistan.
The Book covers the activities
of the Modaraba Sector during the year. It also contains
a comparative position of the whole sector. [
read more… ]
Trends of Aggregate Indicators
The trend of sector aggregate
indicators for the last five years are
given below:
(Rs. in million)
2003
2004
2005
2006
2007
No. of Management Companies
30
30
27
24
24
No. of Modarabas
32
32
28
25
24
Total Equity
7,854
8,401
9,233
10,062
10,821
Total Assets
15,852
17,574
21,131
23,736
26,009
Total Income
4,235
4,140
3,939
5,025
5,200
Leasing Income
3,125
3,066
2,966
3,082
3,997
Musharaka & Morabaha Income
351
271
323
410
504
Miscellaneous & Other Income
759
803
650
1,533
699
Net Profit after
Tax
1,072
956
794
811
749
Assets Leased Out
6,335
7,101
5,751
6,153
6,696
Net Investment in Lease Finance
856
1,067
3,315
3,481
3,861
Current Portion of Lease Finance
23
103
1,905
1,950
1,671
Site
Designed by Sibex Systems Total Number of Visitors 719 Since July 2008
