Karachi, First IBL Modaraba informed Pakistan Stock Exchange that Mr. Shiraz Butt has been appointed as Chief Executive with effect from October 19, 2018 in place of Mr. Hasan Sohaib Murad.
First IBL Modaraba was established in 1989 as a Modaraba of the Islamic Financial sector of Pakistan. It provides Islamic Financial products to the corporate sector as well as the individual consumers. The clientele of the company ranges from Construction & Engineering Companies, Textile Companies, Power Generation Companies, Cement Manufacturing Companies, Educational Sector, Universities and Group Companies to individuals. The products include Musharakah (Islamic Lending/Personal Lending), Ijarah (Lease for Vehicles/Machineries), Murabaha (Working Capital) and more. The stocks of the company are quoted on the Karachi Stock Exchange of Pakistan. The registered office of the company is located in Karachi.
The symbol “FIBLM” is being used by the stock exchange for the shares of First IBL Modaraba.