First Habib Modaraba (FHM) has attained the status of Observer Member of Islamic Financial Services Board (IFSB). It makes it the only member IFSB from Pakistan’s Modaraba and Non-Banking Financial Companies (NBFCs). This was disclosed by Mohammad Shoaib, Chief Executive Officer of the FHM.
The FHM is one of the best performing modaraba of Pakistan having the highest assets value and equity size. I have been consistently paying dividends to the certificate holders since commencement of the business.
For the year ended 30th June 2007 FHM posted Rs.149.31 million profit after tax, declared 20% cash dividend and decided to issue 100% right shares at 50% premium.
The FHM has also been maintaining A category rating for the last ten years. At present it has been rated AA and A1+ by Pakistan Credit Rating Agency (PACRA).
First Habib Modaraba was declared the 2nd best performing modaraba for the year 2007 by Modaraba Association of Pakistan.
For the year 2007 the Management Association of Pakistan (MAP) also conferred Corporate Excellent Certificate to First Habib Modaraba. |
