First Habib Modaraba (FHM) is operating in Pakistan's financial market as Non-Bank Islamic Financial Institution as one of the pioneers in Modaraba sector. The concept of Modaraba as a Shariah compliant mode of business was evolved and introduced as an institutional framework in Pakistan as back as in 1980 with proper legislation, regulatory and monitoring structure and operating guidelines.
FHM was a first perpetual Modaraba started its business operation in 1985 as a first full fledge Islamic Financial service provider within the financial sector of Pakistan. Before, there was one fixed period Modaraba which started its operation in 1980 and wound up in 1983.
Alhamdulillah, FHM has completed 3 decades of successful business operation and grow over the year on sound footing with the commitment of adding value to all our stakeholders particularly Certificate Holders and investors.
With an enviable track record of almost 3 decades is the success story of sheer hard work and commitment to provide the investors a sound and continuous return. Consistency in distribution of dividends among the certificate holders along with increase in certificate holders' equity has made FHM a top performing Modaraba within Modaraba sector. FHM has been continuously recognising for its excellent performance, good corporate governance, best report culture and sound and stable credit rating from various prestigious institutions.
ACHIEVEMENTS OF 31 YEARS OF BUSINESS OPERATIONS
Sound Equity
Through judicious administration of funds and sound investment policies, FHM has assembled a very handsome asset base and equity size. FHM is maintaining sound Equity base and profitability, within Modaraba sector since last several years
Profitable Venture since Inception.
By the grace of God, due to unmatched business & finance skills of the management the FHM remain profitable venture since the beginning of business operations. By applying strict risk management policies and best business practices Alhamdulillah, FHM has never incurred losses in any year during entire business operation.
Continuous payment of dividends
FHM never failed to give dividend in any single year and profit has always been given in shape of cash dividend and stock dividend every year in 31 years of business operations without any fail. The average distribution of the dividends is around 18% and an average distribution of last 18 years is around 21%.
Credit Rating
With continuing sound financial positions, FHM is maintaining "AA+" credit rating since last several years. According to PACRA's assessment these rating denote a very low expectation of credit risk emanating from very strong capacity for timely payment of financial commitments and sound risk absorption capacity emanating from equity dominated financial structure.
Awards and Accolades
-- Recipient of "Best Performing Modaraba" award from The NBFI and Modaraba Association of Pakistan
-- Recipient Corporate Excellence Award from Management Association of Pakistan
-- Best Corporate Report Award from ICAP/ICMAP from joint committee of ICAP and ICMAP
-- SAFA "CERTIFICATE OF MERIT AWARD" from the South Asian Federation of Accountants (SAFA) which is apex body of SAARC.
-- Brand of the Year Award from the Brands Foundation of Pakistan.
-- FPCCI Achievement Award from Federation of Chambers and Industries of Pakistan
-- Best Modaraba Managed Award from by The Pakistan Observer.
We thank Almighty Allah for His blessing and bestowing upon us of journey of continuous success. We are confident that in future we will continue to keep sound and stable position of FHM by following best business practices and good corporate governance by fulfilling all applicable regulatory and Shariah requirements.