Commercial Credit Report for First Al-Noor Modaraba

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	First Al-Noor Modaraba
3rd Floor
IEP Building, 97-B/D-1. Gulberg-III,
Phone: +92 2134558268p:+92 2134558268	LAHORE, 7440 Pakistan	Ticker: FANMFANM

Business Summary

First Al-Noor Modaraba (FAM) is primarily engaged in providing various Islamic financial services, such as Ijarah financing, musharikah, diminishing musharkah, murabaha, musawamah, equity investment and other shariah compliant trading activities. It operates through four segments: Trading, Financing, Investments and Ijarah. Trading segment is engaged in importing and distribution of rice. Financing segment comprises Musharakah, Diminishing Musharakah, Musawamah. Investments segment focuses in realized and unrealized gain on investments and dividend income. Ijarah segment is engaged in Ijarah financing. The ijarah product is a contract where the financier buys and leases equipment or other assets to the business owner for a fee or more often called rental income. The murabaha product is a non-participatory mode of Islamic financing. The musharakah is a contractual relationship formed through mutual consent of the parties for sharing of profits and losses in a joint venture.

Scores and Ratings

FRISK^® Score	Z'' Score	PAYCE^® Score	DBT Index	Moody's Rating	Fitch Rating	DBRS Rating
Yes	Yes	-	-	-	-	-

Financials, News and Filings

Latest Statement	Last Audit	News	SEC Filings	Bankruptcy Filings	Suit & Judgment Filings	Tax Lien Filings
12/31/2023	6/30/2023	Yes	-	-	-	-

Industries

SIC Code	Description
6211	Security brokers, dealers, and flotation companies

Officers and Directors

Title	Name	Title Date	Start Date
Chairman of the Board	Zia I.Zakaria	6/8/2020	4/5/2014
Chief Executive Officer	ZainuddinStir	2/19/2020	2/19/2020
Executive Director	JalaluddinAhmed	2/19/2020
6 additional Officers and Directors records available in full report.

General Information

Outstanding Shares:	23,100,000	(As of 12/31/2023)
Stock Exchange:	PSX
Fax Number:	+92 2134553137

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