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 | |
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