First National Bank Modaraba : Transmission of Annual Accounts for Period ended Jun 30,2022

Annual Report

2022

First National Bank Modaraba

CONTENTS

Corporate Information	02
Notice of Annual Review Meeting & Book Closure	03
Vision and Mission Statement	04
Shari'ah Advisor's Report	05
Directors' Report	06
Statement of Compliance with Listed Companies	13
(Code of Corporate Governance) Regulations, 2019
Review Report on the Statement of Compliance Contained in Listed Companies	15
(Code of Corporate Governance) Regulations, 2019
Auditors' Report to the Certificate Holders	17
Balance Sheet	19
Profit and Loss Account	20
Statement of Comprehensive income	21
Cash Flow Statement	22
Statement of Changes in Equity	23
Notes to the Accounts	24
Pattern of Certificate Holding	53

01

Annual Report 2022

CORPORATE INFORMATION

Board of Directors*	Mr. Muhammad Imran Malik	Chairman
	Mr. Rehmat Ali Hasnie	Director
	Khawaja Waheed Raza	Director
	Mr. Muhammad Iqbal Hussain	Director
	Mr. Abbas Azam	CEO
Shari'ah Advisor	Mufti Ehsan Waquar Ahmed
Chief Financial Officer/	Farah Aslam
Company Secretary
Audit Committee	Mr. Muhammad Iqbal Hussain	Chairman
	Khawaja Waheed Raza	Member
HR & Remuneration
Committee	Khawaja Waheed Raza	Chairman
	Mr. Muhammad Iqbal Hussain	Member
	Mr. Rehmat Ali Hasnie	Member
Auditors	CROWE HUSSAIN CHAUDHURY & CO.
	Chartered Accountants
Bankers	National Bank of Pakistan
	Bank Alfalah Limited
	Al Baraka Islamic Bank
	Habib Bank Limited
	MCB Bank Limited
	Bank Islami Pakistan Limited
Legal Advisor	Muhammad Aqeel Malik
	Advocates Supreme Court
	Aqeel & Associates, Advocate/Legal Consultants
	Office No. 12, 1st Floor, Khawaja Arcade
	Wahdat Road, Lahore
	Tel.: [phone]
Shares Registrar	Hameed Majeed Associates (Pvt.) Limited
	H. M. House, 7 - Bank Square, Lahore
	Tel: [phone], Fax: [phone]
Registered Office	Ground Floor, NBP-RHQ Building,
	26 - McLagon Road, Lahore
	Tel: [phone], Fax: [phone]
	URL: http://www.nbmodaraba.com
	E-mail: [e-mail]

• NBP nominee Director Syed Jamal Baquar resigned during the year. Subsequent to the year end NBP has nominated Mr. Hakim Ali Laghari and Mr. Amir Faraz as its nominee Directors in place of Mr. Rehmat Ali Hasnie and Syed Jamal Baquar. Their nomination is subject to approval by Registrar Modaraba SECP.

02

First National Bank Modaraba

NOTICE OF 19TH ANNUAL REVIEW MEETING & BOOK CLOSURE

Notice is hereby given that the 19th Annual Review Meeting of certificate holders of First National Bank Modaraba will be held on Friday, October 21, 2022 at 11:00 a.m. at Ground Floor, NBP RHQs Building, 26 - McLagon Road, Lahore to review the performance of the Modaraba for the year ended June 30, 2022.

The Certificate Transfer Book will remain closed from October 14, 2022 to October 21, 2022 (both days inclusive) for the purpose of eligibility to attend the Annual Review Meeting.

The certificate holders whose names appear on the Register of Certificate Holders of First National Bank Modaraba at the close of business as on October 13, 2022 will be eligible to attend the Annual Review Meeting. All transfers received in order, up to the close of business on October 13, 2022 at our Registrar's Office, Hameed Majeed Associates (Pvt.) Limited, H.M House, 7 - Bank Square, Lahore will be considered in time.

By order of the Board

Farah Aslam

Company Secretary

National Bank Modaraba Management Company Limited

Managers of First National Bank Modaraba

Lahore: September 09, 2022

03

Annual Report 2022

Vision:

To offer Shariah complaint Islamic Financial Products in

the financial market so as to achieve optimum customer satisfaction

and develop sustainable business relationships.

Mission:

Promote an Islamic Financial Institution where values of management excellence, professionalism, human resource development are promoted such that interests of all stakeholders are safeguarded.

04