Karachi, KASB Modaraba informed Pakistan Stock Exchange To acquire by purchase, lease or otherwise land, buildings and property or any interest, in the same and to build, erect, improve and construct houses, buildings of every description, and to sell, lease, let to otherwise dispose-off the same for cash or on deferred payment basis on its own or in collaboration with other individuals, companies and Modarabas through forming joint ventures, limited liability companies, and/ or any other legal corporate structure. The grant of permission to the Modaraba would however be subject to Rules/ Regulations, which may be in force from time to time for carrying out the Real Estate Business by the Modaraba. Business and investment decisions shall be judiciously based on thorough analysis and studies and scope of future prospects in the light of cash flow, market operations, business projections and environment considerations as well as the management of enterprise.”
KASB Modaraba was incorporated in Pakistan under the Modaraba Companies and Modaraba Ordinance, 1980. The operations of the company are managed by KASB invest private limited which acts as a management company. The company is an Islamic financial institution extending financial facilities to its customers on Islamic principles of Shariah. The registered office of the company is located in Karachi. The shares of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan.
KASB Modaraba is a multipurpose perpetual Modaraba and is primarily engaged in ijarah financing, musharaka financing, murabaha financing, modaraba financing, diminishing musharaka and investing in listing securities.
The symbol “KASBM” is being used by the stock exchanges for the shares of KASB Modaraba.