14TH ANNUAL GENERAL MEETING MODARABA ASSOCIATION OF PAKISTAN (MAP)
14th Annual
General Meeting of Modaraba Association of Pakistan (MAP) was held on
10th December, 2007 at 2.30 p.m. at Henna Ball room, Hotel Pearl Continental,
Karachi. The AGM was followed by the Performance Award Distribution Ceremony
of the Association in which awards were given to the top three performing
modarabas.
The Annual General Meeting started with the recitation of Holy Quran.
Mr. Muhammad Samiullah, Secretary General, MAP recited few versus from
the Holy Quran.
The outgoing Chairman Mr. Basheer A. Chowdry in his address thanked the
members of the Association in general and the members of the Executive
Committee in particular for the support and assistance during his tenure
as Chairman of the Association. He highlighted the activities of the modaraba
sector during the year under review.
Mr. Basheer A. Chowdry, outgoing Chairman MAP,
addressing the Annual General Meeting. Mr. M. Jawed Parwaz and
Mr. Muhammad Samiullah are also seen in the picture.
Mr. Basheer A. Chowdry
welcomed the newly elected Chairman Mr. Muhammad Shoaib, Vice Chairman
Mr. Arjumand A. Minai and members of the newly elected Executive Committee
and invited the newly electedChairman to address the AGM.
Mr. Muhammad Shoaib, newly elected Chairman, MAP addressing
the AGM
Mr. Muhammad Shoaib, incoming
Chairman thanked all the members of the Association for electing him as
Chairman of the Association. He appreciated the work done by the outgoing
Executive Committee under the leadership of Mr. Basheer A. Chowdry. He
particularly mentioned the efforts made in connection with the reviewing
and redrafting of the model agreements. He said that his priority would
be to finalise these agreements so that the modaraba sector may introduce
new products in addition to the already existed modes of financing i.e
Mursharaka, Murabaha and Ijara (Leasing). He also appreciated the support
of the Registrar Modaraba Mr. Bilal Rasul and Mr. Shahid Mahmood , Deputy
Registrar who took personal interest in preparing these model agreements.
Mr. Muhammad Shoaib, on behalf of the Association presented
plaques to the outgoing Executive Committee for the services rendered
by them during their tenure.
Mr. Muhammad Shoaib, Incoming Chairman presenting a
Plaque to
the outgoing Chairman, Mr. Basheer A. Chowdry, Mr. Muhammad Samiullah,
Secretary General is also seen in the picture.
Mr. Muhammad Shoaib, Incoming Chairman, MAP presenting
a plaque to
the outgoing Vice Chairman Mr. M. Javed Parwaz. Mr. Muhammad Samiullah,
Secretary General, MAP is also seen in the picture.
Mr. Muhammad Shoaib, Incoming Chairman, MAP, presenting
a plaque to
Mr. Muhammad Salman, Outgoing Member, EC. Mr. Muhammad Samiullah,
Secretary General is also present.
Mr. Bilal Rasul, Registrar
Modaraba also addressed the AGM and he assured that SECP would extend
every possible help and support to resolve the issues of the Modaraba
Sector. He applauded the work done by the previous committee of the Association
and hoped that the new committee will follow the footsteps designed by
the previous committee particularly in connection with reviewing and redrafting
of the model agreements, amendments in the Modaraba Ordinance, Rules and
Prudential Regulations.
Mr. Bilal Rasul, Registrar Modaraba, SECP, addressing
the AGM
Mr. Muhammad Shoaib and Mr. Basheer A. Chowdry jointly presented
a shield to Mr. Bilal Rasul, Registrar Modaraba.
Mr. Muhammad Shoaib and Mr. Basheer A. Chowdry
presenting a shield to Mr. Bilal Rasul,
Registrar Modaraba. Mr. M. Javed Parwaz and Mr. Muhammad Samiullah
are also present.
Newly elected Executive Committee of Modaraba
Association of Pakistan for the year 2008.
