Modaraba Al Mali : TRANSMISSION OF ANNUAL REPORT JUNE 30,2022

Modaraba Al-Mali

MISSION STATEMENT AND VISION	02
CORPORATE INFORMATION	03
CHAIRMAN'S REVIEW REPORT	04
CHAIRMAN'S REVIEW REPORT URDU	05
DIRECTORS' REPORT	06
DIRECTORS' REPORT URDU	13
KEY OPERATING AND FINANCIAL DATA	22
REPORT OF THE SHARIAH ADVISOR	23
STATEMENT OF COMPLIANCE	24
INDEPENDENT AUDITOR'S REVIEW REPORT	29
AUDITORS' REPORT TO THE CERTIFICATE HOLDERS	30
BALANCE SHEET	32
STATEMENT OF PROFIT AND LOSS ACCOUNT	33
STATEMENT OF COMPREHENSIVE INCOME	34
CASH FLOW STATEMENT	35
STATEMENT OF CHANGES IN EQUITY	36
NOTES TO THE FINANCIAL STATEMENTS	37
PATTERN OF CERTIFICATE HOLDING	81
CATEGORIES OF CERTIFICATE HOLDERS	83
NOTICE OF ANNUAL REVIEW MEETING	84
NOTICE OF ANNUAL REVIEW MEETING URDU	85

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Modaraba Al-Mali

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Modaraba Al-Mali

Board of Directors	Mr.Usman Hassan	Chairman
	Mr. Siddique-ur Rehman Khurram	Director/ Chief Executive Officer
	Ms. Aasiya Riaz	Director
	Mr.Hafiz Mudassir Alam	Director
	Mr. Muhammad Usman	Director
	Mr. Rashid Matin Khan	Director
	Mr. Hussain Ahmed Ozgen	Director
	Mr. Hussain Ahmed Ozgen	Chairman
Audit Committee
	Mr. Muhammad Usman	Member
	Mr. Usman Hassan	Member
	Mr.Mansoor Ahmed	Secretary
HR & Remuneration
Committee	Mr. Hussain Ahmed Ozgen	Chairman
	Mr. Siddique Ur Rehman Khurram	Member
	Mr. Muhammad Usman	Member
	Mr. Rashid Matin Khan	Secretary
	Mr. Usman Hassan	Chairman
Risk Committee
	Mr. Hussain Ahmed Ozgen	Member
	Mr. Siddique Ur Rehman Khurram	Member
	Mr. Rashid Matin Khan	Secretary
	Mr. Usman Hassan	Chairman
Nomination Committee
	Mr.Hafiz Mudassir Alam	Member
	Mr. Siddique Ur Rehman Khurram	Member
	Mr. Rashid Matin Khan	Secretary
	Mr. Siddique Ur Rehman Khurram	Chief Executive Officer
Mangement Team
	Mr. Adeel Rehman	CFO/Company Secretory
	Mr.Rashid Matin Khan	Chief Operating Officer
	KPMG Taseer Hadi & Co.
Auditor
	Chartered Accountants
Legal Advisor &	Bawaney & Partners
Consultant to the Merger	Mohsin Tayebaly & Co.-Advocate & Legal Consultants
Bankers & Financers	BankIslami Pakistan Limited
	Bank Al-Falah Limited
	Faysal Bank Limited
	Meezan Bank Limited
	JS Bank Limited
Registrar & Share	F.D Registrar Services (Pvt.) Limited
Registrartion Office	Saima Trade Tower A 17th Floor
	I.I Chaundrigar Road Karachi
	Office # 508 LSE Plaza
Registered Office
	Khayaban-e-Aiwan-e-Iqbal
	Lahore
	E-mail: [e-mail]
	URL:http// www.modarabaalmali.com

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Modaraba Al-Mali

CHAIRMAN'S REVIEW REPORT

Dear Certificate-holders,

Generally 2021-2022 was a tough year for the Country. Pak Rupee devaluation, persistently high KIBOR rates, inflationary pressures, political uncertainty were remained major areas of concern. Moreover, recent taxation measures (FY 2020-2021) is adding problem to Modaraba segment.

Modaraba was engaged in the business of Leasing/Ijarah, Murabaha, Musharaka Financing and operations of gas stations. Management of the Modaraba has decided to change the business of the Modaraba as follows:

Discontinuation of Existing Businesses:

1. Discontinuance of lending business (in Ijarah, Murabah, Musharak and any other mode of Financing). Efforts will be made for the recovery of the outstanding balances;
2. Disposal of property/business of Gas Station;
3. Disposal of leasehold offices/premises in Karachi;

Modaraba is re-focusing and repositioning into New Businesses:

1. Launching IPO Support Fund and Revival of Shell Listed Companies;
2. Re-focusingthe business of Modaraba to Venture Capital;
3. Underwriting and Business Revival Activities;
4. Strategic Equity Investments in Financial Services entity;

Modaraba is multipurpose for indefinite period is revamping and repositioning itself into emerging fields and will create value to the certificate-holders. Management is determined to cope with challenges and is working on the strategy to revive the Modaraba in diversified areas.

We would like to thank our customers for their trust and also like to thank all our colleagues, management and staffs that are strongly committed to their work as the success of your Modaraba is built around their efforts. We also thank our certificate-holders for their confidence in the Modaraba and assure them that we are committed to do our best to ensure best rewards for their investment in the Modaraba.

-Sd-

Mr. Usman Hassan

Dated: October 04, 2022

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