The NBFI & Modaraba Association of Pakistan recently became a participant at the Abbottabad Sarmayakari Markaz (ASM). The office of the association titled ‘Islamic Finance Centre’ was inaugurated by Mr. Zafar Abdullah, Commissioner- Specialized Companies Division and Information System and Technology Department, SECP on March 9, 2017.
The event was also attended by Mr. Imran Inayat Butt, Executive Director, SECP and Mr. Usman Hayat, Executive Director, SECP, who were welcomed by Mr. Ayaz Dawood, Chairman, NBFI & Modaraba Association of Pakistan and other senior members of the association.
The centre will provide Investor Education and Awareness about the Islamic mode of investment and expand the association’s outreach to the residents of Abbottabad and the surrounding cities of Haripur, Mansehra, and Balakot etc.
NBFI & Modaraba Association of Pakistan is a representative body of Modarabas, Leasing Companies, a few Investment Banks and a Window Takaful Operations functional in the country.
ASM is Pakistan’s first ever Capital Market Business Hub, established by Securities and Exchange Commission of Pakistan (SECP) in collaboration with the Central Depository Company of Pakistan Limited (CDC). Capital Market Business Hub is a concept of centralized premises where major capital market entities, including AMCs and stock brokers maintain their presence. Through this endeavor, the outreach of the capital market will be greatly enhanced especially in smaller cities of the country.