Financial Information | Contact Us | Careers | Links
 
   
Select from the following:
  About us  
 
ABOUT US
Standard Chartered Modaraba (SCM)

Established in 1987, floated under the Modaraba Ordinance of 1980, SCM is now one of the largest modarabas in Pakistan. It is listed
on the Karachi and Lahore stock exchanges and has a history of offering highest dividends on its certificates. Standard Chartered Bank
(Pakistan) Limited (SCBPL) and Standard Chartered Services of Pakistan (Private) Limited each own ten percent shareholding in SCM
and are the associated companies of SCM. The website address of SCBPL is www.standardchartered.com.pk. SCM is a member of NBFI
& Modaraba association of Pakistan.

SCM offers both Consumer and Wholesale Shariah compliant financing products. These include; Ijara/Leasing, Diminishing Musharakah,
Morabaha, Certificates of Musharakah etc. SCM's management company (mudarib), Standard Chartered Services of Pakistan (Pvt.) Ltd.
(Formerly Grindlays Services of Pakistan (Pvt.) Ltd.), is wholly owned by Standard Chartered Group, which has over 150 years of banking
experience.

The registration number of the management company of SCM is 00000859.

The National Tax Number of SCM is 0801136-2.

The symbol assigned by Karachi Stock Exchange and Lahore Stock Exchange to Standard Chartered Modaraba is SCM.

Standard Chartered Group
Standard Chartered employs 30,000 people in over 500 locations in more than 50 countries in the Asia Pacific Region, South Asia, the
Middle East, Africa, the United Kingdom and the Americas. It is one of the world's most diversified international banks, with a management
team comprising 70 nationalities. Standard Chartered is listed on both the London Stock Exchange and the Stock Exchange of Hong Kong
and is in the top 25 FTSE-100 companies, by market capitalization. The Bank is trusted across its network for its standard of governance
and its commitment to making a difference in the communities in which it operates.
The Modaraba Concept
The laws governing modarabas were introduced in Pakistan in 1980 as one of the first steps taken by the Government towards estab-
lishing a financial system in coherence with the injunctions of Islam.

The formation of a Modaraba is done under an arrangement made between two parties: one provides the capital (rabb-ul-maal), and the
other party, called the mudarib, contributes through its skills. A Modaraba can undertake virtually any business activity that is not repugnant
to Shariah, the Islamic Law. Moreover, a Modaraba may be either a multipurpose or a specific purpose Modaraba, and can be formed for
either a fixed or an indefinite period. Capital is raised from the public in the form of Modaraba Certificates, which are similar to shares of companies.
Historical Perspective

The laws governing modarabas were introduced in Pakistan in 1980 as one of the first steps taken by the Government towards estab-
lishing a financial system in coherence with the injunctions of Islam.

The formation of a Modaraba is done under an arrangement made between two parties: one provides the capital (rabb-ul-maal), and the
other party, called the mudarib, contributes through its skills. A Modaraba can undertake virtually any business activity that is not repugnant
to Shariah, the Islamic Law. Moreover, a Modaraba may be either a multipurpose or a specific purpose Modaraba, and can be formed for
either a fixed or an indefinite period. Capital is raised from the public in the form of Modaraba Certificates, which are similar to shares of companies.

Board of Directors
Read More
 
Registrars & Share Registration Office
Famco Associates (Private) Limited
8-F, Block-6  P.E.C.H.S
Shahrah-e-Faisal, Karachi
Phone: (021) 32426597, 32427012

Auditors
A.F. Ferguson & Co.
Chartered Accountants
State Life Building 1C
I.I. Chundrigar Road, Karachi
 
 
Sitemap   Bookmark   Print
             

Terms & Conditions | Data Protection & Privacy Policy
Copyright © 2011 Standard Chartered Modaraba. All right reserved.

 Home | About Us | Vision & Mission | Products | Corporate Social Responsibility | Islamic Finance Terminology