Islamic Finance

The Firm assists Islamic banks, Islamic mutual funds, Modarabas and other institutions, which prioritise in dealings in Islamic in accordance with the principles of Shariah. Being an ethically driven stream of business, the Firm prioritises itself in proving clean and clear opinions and completes the challenges through deep appreciation of the standards that a Shariah compliant financing or investment requires, and endeavours to identify ways which would allow its clients to carry on their businesses efficiently whilst remaining within the Shariah framework.


Selected Transactions
  • Assisted Middle Eastern Banks having Pakistan operations in formulation of polices and documents on Islamic Banking, in consultation with the Islamic Banking Committee set up by the State Bank in the year 1984-85, when Islamic banking was first introduced in Pakistan.
  • Formation of modabaras and modaraba management companies under the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 and related Rules.
  • Formation of the first Shariah compliant mutual fund in Pakistan under the NBFC structure, ensuring that the investment policy statement and permissible investments by the fund remain within the parameters of Shariah compliant investments at all times.
  • Drafting and finalization of Musharaka Agreement between a Modaraba and its customer, permitting the customer to obtain financing for BMRE purposes.
  • Review and finalization of an asset sharing agreement between a leasing company and a modaraba, enabling the two to have joint control and ownership of the financed customer assets with a view to safeguarding their respective interests on the financing and to coordinating various actions which may be taken in respect.