Annual Review Meeting 2020
Notice is hereby given that the Annual Review Meeting of certificate-holders of First Habib Modaraba will be held on October 24, 2020 at 03.00 p.m. at Institute of Cost and Management Accountants of Pakistan (ICMAP) Building, ST-18/C Block-6, Gulshan-e-Iqbal, Karachi, to review the performance of the Modaraba for the year ended June 30, 2020.
First Habib Modaraba Announces 28 Percent Cash Dividend
Board of Directors in their meeting held on September 23, 2020, announced the cash dividend of 28 percent i.e. Rs.1.40 per certificate of Rs.5/-. The financial performance of the Modaraba remained satisfactory in 2019-20.
FPCCI Achievement Award 2020
On September 24, 2020 FPCCI has awarded “Certificate of Achievement” to First Habib Modaraba (FHM) under the category of “Islamic Modes of Financing”. This recognition has been given to FHM for outstanding achievement during 2020 within NBFI and Modaraba sector.
PACRA CREDIT RATING
According to press release dated September 25, 2020, Pakistan Credit Rating Agency Limited “PACRA” maintained rating scale of Frist Habib Modaraba (FHM) as AA+ for long-term and A1+ for short term for the year ended June 30, 2020. These ratings reflect First Habib Modaraba’s strong business profile emanating from healthy asset base, sound asset quality and sustained profitability. These ratings denote a very low expectation of credit risk and Indicate very strong capacity for timely payment of financial commitments.
BCSR 2020 Awards
The Joint Evaluation Committee of the Institute of Chartered Accountants of Pakistan (ICAP) and the Institute of Cost and Management Accountants of Pakistan (ICMA Pakistan) has awarded 1st Position “ Best Corporate and Sustainability Report (BCSR) 2020 Awards” under the category of NBFIs and Modaraba.