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First Al-Noor Modaraba operates as an Islamic financial institution in Pakistan. The company operates through four segments: Trading, Financing, Investments, and Ijarah. It provides Ijarah, a contract where the financier buys and leases equipment or other assets to the business owner for a fee or rental income; and Murabaha, a non-participatory mode of Islamic financing. The company also offers Musharakah, a contractual relationship formed through mutual consent of the parties for sharing of profits and losses in a joint venture; and Musawammah, a sale agreement in which price of the commodity to be traded is bargained between seller and the purchaser without any reference to the price paid or cost incurred by the former. In addition, it is involved in the equity investment activities; and trading and distribution of basmati rice. The company was founded in 1980 and is based in Karachi, Pakistan.
Name | Age | Since | Title |
---|---|---|---|
Zainuddin Aziz Ayoob | - | 2020 | Chief Executive & Executive Director |
Irum Saba | - | 2020 | Independent Director |
Abdul Rahim Suriya | - | - | Independent Director |
Abdul Aziz Ayoob | - | - | Non Executive Director |
Noor Mohammad Zakaria | - | 2020 | Director |
Zia I. Zakaria | - | 2014 | Chairman of the Board |
Tausif Ilyas | - | 2019 | Independent Director |
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