First Habib Modaraba

First Habib Modaraba, a Non-Bank Islamic Financial Institution, engages in the leasing, financing, and other related businesses in Pakistan. The company offers Diminishing Musharaka, a Musharaka with an additional feature of decreasing ownership of one party. Its financial services include Murabaha, a non-participatory mode of Islamic financing; consumer auto car financing solution; financing for solar power equipment; Salam, a contract of sale where the seller undertakes to supply some specific commodity to the buyer at a future date in exchange for a price fully paid in advance; and Istisna, a contract with a manufacturer to make something or a contract on a commodity on liability with the provision of work. The company also provides Musharaka, a certificate of investment. First Habib Modaraba was founded in 1985 and is headquartered in Karachi, Pakistan.