First IBL Modaraba : Transmission of Quarterly Accounts September 30, 2022
October 28, 2022 at 08:23 am
Share
QUARTERLY
REPORT
SEPTEMBER, 2022
FIRST IBL
MODARABA
Corporate Information
Modaraba Management Company
IBL Modaraba Management (Pvt.) Limited
Board of Directors
Arslan Khan Khakwani
Chairman
Ibrahim Hassan Murad
Director
Iftikhar Hameed Khan
Director
Aamir Manzoor
Chief Executive
Company Secretary
Hassan Fareed
Chief Financial Officer
Zeeshan Ahmed
Internal Auditor
Rana Rizwan Tariq
Sharia'ah Advisor
Dr. Salman Ahmed Khan
Legal Advisor
M/s. Holscott International [Legal services]
Bankers
Habib Bank Limited - Islamic Banking
Meezan Bank Limited
MCB Islamic Bank Limited
The Bank of Punjab - Taqwa
Auditors to the Modaraba
Crow Hussain Chaudhury
Chartered Accountants
Registrar
Corp Tec Associates (Pvt.) Limited
503 E, Johar Town, Lahore.
Registered/ Principal Office
Office No.4-L, Main Ferozpur Road,
Gulberg3, Lahore.
Telephone No. 042-35969435 & 36
Directors' Report
On behalf of Board of Directors of IBL Modaraba Management (Pvt.) Ltd, the management company of First IBL Modaraba (FBLM), I am pleased to present Quarterly report with un- audited financial statements of FIBLM for the 1st quarter ended September 30, 2022.
In presence of tough economic conditions, high inflation rates, low buying power, ban on imports, lingering supply constraints and other economic scenario, your Modaraba booked gross profit before tax of Rs.3.147 million as compared to profit of Rs. 1.674 million in the preceding period.
Segment wise contribution of operating income is as follows:
Revenue Segments
Ijarah
Musharikah Investment
Profit on
Other income
property
deposits
September 2022
September 2021
During the reporting period the management focused on investment of funds in ijarah segment to quality clients to generate more handsome return for its valued certificate holders.
Asset base highlights are as follows:
Asset Base
Current Assets
Non-Current Assets
Total Assets
September 2022
June 2022
During the first quarter ended September 30, 2022 recoveries were smooth and subsequently invested in income generating segments.
Liability base highlights are as follows:
Liability Base
Current Liabilities Non-Current Liabilities Total Liabilities
September 2022
June 2022
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
Original Link
Original Document
Permalink
Disclaimer
First IBL Modaraba published this content on 28 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2022 07:22:09 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 
