Modaraba sector in Pakistan could be more efficient by development of new products in the Islamic financial market. This was stated by Chairman of Modaraba Association of Pakistan (MAP) Muhammad Shoaib, while speaking at the first meeting of newly elected executive committee of MAP here on Tuesday.
He said that the committee comprised very senior and experienced professionals and he was confident that the new committee would actively contribute towards the promotion of the Modaraba sector by closely working with the Registrar, Modaraba, and members of the MAP.
He said that keeping in view the challenges, faced by the Modaraba sector, "we have emphasised and focused on the four priorities, including research and development of new Islamic financial products, proper marketing of Modaraba models as Islamic financial service provider, liaision with Islamic banks, Takaful companies and Islamic mutual funds and awareness about Islamic finance within the members by organising workshops and seminars."
He appreciated the work done by the previous committee, headed by Basheer A. Chowdry, and said the new committee would definitely follow the road map given by the previous committee for betterment of the Modaraba sector.-PR
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