Popular Islamic Modaraba

Popular Islamic Modaraba provides financing services in Pakistan. The company offers Ijarah, a contract where the benefits/use of an asset is transferred by the lessor to the lessee at an agreed price/rental amount for an agreed period of time or Ijarah period. It also provides Diminishing Musharaka, a redeemable capital; Murabaha, a non-participatory mode of Islamic financing; Musharaka, which allows two sides make a joint contribution to the capital; Salam, a short-term agreement in which a financial institution makes prepayments for future delivery of a specified quantity of goods on a specified date; and Istisna, a sale contract between the company and its customers. The company was formerly known as First Islamic Modaraba. Popular Islamic Modaraba was founded in 1994 and is based in Karachi, Pakistan.