The Modaraba

First Al-Noor Modaraba (FAM) is managed by the Al-Noor Modaraba Management (Private) Limited. FAM commenced its business operation in November 02, 1992 with initial capital of Rs.210 million only, as specific purpose (Trading) Modaraba and listed on the Karachi and Lahore Stock Exchanges. Then FAM was converted into a multipurpose perpetual Modaraba in July, 1995 and is currently engaged in various Islamic Financial Services like Ijara, Murabaha, Musharakah, Musawamah, equity investment and trading activities.

Fam's prudent business development strategies and risk management policies have remained consequential in developing a good quality of assets and maintaining a decent performance level, despite tough business environment and a fairly high competition amongst the Islamic financial institutions.

FAM, possesses a fairly skillful team, comprising of well qualified and experienced professionals who are fully geared up in matters relating to Islamic/Shariah principles and Islamic finance. Besides, indulging into Islamic investments, FAM right from inception has also relied heavily on trading in commodities. Its super kernel basmati rice branded as "Shalamar" is of local and international repute. Moreover, FAM has remained engaged in myriad commodities operations such as pulses, dates etc.