Karachi: In a significant development within the financial sector, control of First IBL Modaraba and its management entity, IBL Modaraba Management (Private) Limited, has been transferred to M/s. ZTP (Private) Limited. This change in management control was officially completed on May 6, 2026, marking a notable shift in leadership for the financial company.

The Acquirer, ZTP (Private) Limited, has now effectively assumed control over both the First IBL Modaraba and its management company. This transition follows the initial communication from the involved parties dated February 16, 2026, which outlined the intended change in management control.

According to information available from the Pakistan Stock Exchange (PSX), the transition of control is seen as a significant move within the designated market category. The change is expected to have implications for the operations and strategic direction of First IBL Modaraba under the new leadership of ZTP (Private) Limited.

The financial community will be closely monitoring how this change in management control impacts the performance and strategic decisions of First IBL Modaraba in the coming months.