Karachi, Standard Chartered Modaraba informed Pakistan Stock Exchange that the board of Directors meeting of the company is in progress due to which company was unable to communicate the financial results on August 25, 2016. The results of the meeting shall be conveyed on the next working day i.e. on August 26, 2016.
Standard Chartered Modaraba was formed under the Modaraba Companies Modaraba Floatation and control Ordinance, 1980 in Pakistan in 1987. The rules of the company are framed under the Standard Chartered Services of Pakistan Private Limited. The management company is a wholly owned subsidiary of Standard Chartered Bank Pakistan Limited. The stocks of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the company is located in Karachi.
The modaraba is a perpetual modaraba and is primarily engaged in leasing/ ijarah of plant, machinery, motor vehicles and computer equipment etc. The company invests in the commercial and industrial ventures suitable for the modaraba. It offers both Consumer and Wholesale Shariah compliant financing products.
The symbol “SCM” is being used by the stock exchanges for the shares of Standard Chartered Modaraba Limited.