First IBL Modaraba : Transmission of Quarterly Accounts For The Period Ended September, 2023
October 30, 2023 at 05:01 am
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Corporate Information
Modaraba Management Company
IBL Modaraba Management (Pvt.) Limited
Board of Directors
Mr. Arslan Khan Khakwani
Chairman
Mr. Ibrahim Hasan Murad
Director
Mr. Salman Ahmad
Independent Director
Ms. Faiza Jabeen
Female director
Mr. Muhammad Ibrahim Qazi
Chief Executive
Company Secretary
Mr. Hassan Fareed
Chief Financial Officer
Mr. Zeeshan Ahmed
Internal Auditor
Mr. Jahangir Hassan
Shari'ah Advisor
Dr. Salman Ahmed Khan
Legal Advisor
M/s. Holscott International [Legal services]
Bankers
Meezan Bank Limited
MCB Islamic Bank Limited
The Bank of Punjab - Taqwa
Auditors to the Modaraba
Crow Hussain Chaudhury
Chartered Accountants
Share Registrar
Corp Tec Associates (Pvt.) Limited
503 E, Johar Town, Lahore.
Telephone No. 042-35170335 - 37
Registered/ Principal Office
Office No.4-L, Main Ferozepur Road,
Gulberg3, Lahore.
Telephone No. 042-35969435 & 36
www.firstibl.com
On behalf of the Board of Directors of IBL Modaraba Management (Pvt.) Ltd, the managing company of First IBL Modaraba (FIBLM), I am delighted to present the Quarterly Report featuring unaudited financial statements for FIBLM, covering the first quarter ending on September 30, 2023.
In the face of challenging economic conditions characterized by high inflation rates, reduced purchasing power, restrictions on imports, persistent supply constraints, and an overall challenging economic landscape, I am pleased to report that your Modaraba has achieved a net profit of Rs. 5.203 million for this quarter. This is a notable improvement compared to the profit of Rs. 2.643 million recorded in the previous reporting period.
Segment wise contribution of operating income is as follows:
Revenue Segment Highlights
5.42
4.03
2.60
2.63
1.87
1.87
1.62
0.91
Ijarah
Musharikah
Investment property
Others
Sep 2023
Sep 022
During the reporting period the management focused on investment of funds in Ijarah and musharikah segment to generate more handsome return for its valued certificate holders.
Asset base highlights are as follows:
Asset Base
228.59 222.81
153.27 131.41
75.33 91.40
Current Assets
Non Current Assets
Total Assets
Sep 2023
June 2023
During the first quarter ended September 30, 2023 recoveries were smooth and subsequently invested in income generating segments.
5.42
4.03
2.60 2.63
1.87
1.87
1.62
0.91
Ijarah
Musharikah
Investment property
Others
Sep 2023
Sep 022
153.27
228.59 222.81
131.41
75.33 91.40
Current Assets
Non Current Assets
Total Assets
Sep 2023
June 2023
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First IBL Modaraba published this content on 30 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 October 2023 05:00:45 UTC.
First IBL Modaraba is a Pakistan-based financial institution. The Company is engaged in various Islamic modes of financing and operations, including ijarah, musharaka and murabaha arrangements. The Company provides Islamic financial products to the corporate sector, as well as individual consumers. Its clientele ranges from construction and engineering companies, textile companies, power generation companies, cement manufacturing companies, the educational sector, universities, and group companies to individuals. Its products include Ijarah, Musharika, Morabaha and House Finance. It grants companies the facility to avail lease finance for plant and machinery, motor vehicles, furniture and fixture, and office equipment at competitive rates. The Companyâs house finance offers three product variants: house purchase, purchase of undivided share (home renovation) and purchase of undivided share of property from another bank (balance transfer).
FIRST IBL MODARABA 
