Karachi: In the latest governance report, Al-Noor Modaraba Management (Private) Limited showcased robust participation and commitment during the fiscal year ending June 30, 2024. The company held four board meetings throughout the year, with a significant majority of directors maintaining full attendance, reflecting strong engagement and oversight.

The participation across various board meetings detailed specific attendance: Mr. A. Aziz Ayoob, Mr. Noor Muhammad Zakaria, Mr. Zainuddin Ayoob, and Mr. Abdul Rahim Suriya attended all four scheduled meetings. Meanwhile, Mr. Zia I. Zakaria, Mr. Tausif Ilyas, and Dr. Irum Saba attended three of the four meetings.

According to information available from the Pakistan Stock Exchange (PSX), this pattern of director attendance underscores a dedicated approach to governance at the company, crucial for steering through a year marked by economic fluctuations and operational challenges.

Notably, Dr. Irum Saba's departure from the board as an Independent Director on June 6, 2024, was a significant change this year. The board has accepted her resignation and plans to appoint a new Independent Director for the remainder term, which will be subject to the approval of The Registrar Modarabas, Securities and Exchange Commission of Pakistan, Islamabad.

This detailed attention to board composition and compliance with governance requirements is critical as Al-Noor Modaraba navigates through economic recovery phases and continues to uphold stringent governance standards to foster corporate stability and growth.