First National Bank Modaraba : Transmission of annual Accounts for the year ended June 30,2023

Annual Report

2023

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

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Annual Report 2023

CORPORATE INFORMATION

Board of Directors	Mr. Muhammad Imran Malik	Chairman
	Mr. Hakim Ali Leghari	Director
	Khawaja Waheed Raza	Director
	Syed Zubair Ahmad Shah	Director
	Mr. Aamir Faraz	Director
Shari'ah Advisor	Mufti Ehsan Waquar Ahmed
Chief Financial Officer/	Farah Aslam
Company Secretary
Audit Committee	Mr. Hakim Ali Leghari	Member
	Khawaja Waheed Raza	Member
HR & Remuneration
Committee	Khawaja Waheed Raza	Chairman
	Mr. Muhammad Imran Malik	Member
	Mr. Hakim Ali Leghari	Member
Auditors	Rahman Sarfaraz Rehim Iqbal Rafiq
	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]

02

First National Bank Modaraba

NOTICE OF 20TH ANNUAL REVIEW MEETING & BOOK CLOSURE

Notice is hereby given that the 20th Annual Review Meeting of certificate holders of First National Bank Modaraba will be held on Friday, October 27, 2023 at 04:00 p.m. at Ground Floor, NBP RHQs Building, 26 - McLagon Road, Lahore to review the performance of the Modaraba for the year ended June 30, 2023.

The Certificate Transfer Book will remain closed from October 20, 2023 to October 27, 2023 (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 19, 2023 will be eligible to attend the Annual Review Meeting. All transfers received in order, up to the close of business on October 19, 2023 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: October 05, 2023

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Annual Report 2023

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.

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