Karachi, Habib Metropolitan Modaraba Management Company (Private) Limited informed Pakistan Stock Exchange that Board of Directors meeting of the Company will be held on April 25, 2019 at Karachi. The agenda of the meeting will to consider the Quarterly Accounts for the period ended March 31, 2019.
Further, the company has declared the closed period from April 17, 2019 to April 25, 2019.
Habib Metropolitan Modaraba Management Company (Private) Limited (HMMCL), a wholly owned subsidiary of Habib Metropolitan Bank Limited, is managing a very successful venture “First Habib Modaraba”. HMMCL has floated another multipurpose, perpetual Modaraba in the name of Habib Metro Modaraba. (HMM)
Habib Metro Modaraba is floated with a view to:
Providing an opportunity to certificate holders to participate gainfully in Riba Free economic development of Pakistan.
Earn maximum possible income for distribution to the certificate holders so that attractive, sound and lawful Shariah compliant avenues of investment can be provided to them.
Produce appreciation of capital through increase in value of certificates.
Generate long-term growth.
Habib Metro Modaraba participate in various Islamic modes of financing approved by the Religious Board. In addition, the Modaraba wishes to diversify its business by using other avenues of investment as already approved by the Religious Board.
The scope of the Modaraba’s primary business activities:
Residual Value (RV) Car financing model.
Providing finance for solar power solutions.