COM scheme has been formulated within parameters laid down by the Religious Board and has been approved by the Securities and Exchange Commission of Pakistan. These certificates are similar to certificates of investments of leasing companies with maturities ranging from 3 months to 5 years. COMs pay profits quarterly and the certificate is transferable and encashable at any time. These transfer and encashable features are similar to those found in shares of a company and make COMs extremely liquid.

A certain percentage of total profits (stated on the face of each certificate) is shared by the Modaraba Certificate Holders and the COM holders.

The COM scheme affords many safeguards to its investors like, disclosure of credit rating on all offer for sale and advertising materials, publication of quarterly profit and loss account in two national dailies for the information of COM holders, premature encashment at any time, appointment of a Trustee to over see the use of a Redemption Reserve Fund created for premature encashment and strict reporting requirement of the SECP.