Our Profile
Popular Islamic Modaraba (PIM), formerly known as First Islamic Modaraba, has a rich history dating back to its establishment in 1994. Under the regulatory framework of the Modaraba Ordinance of 1980, PIM emerged as a dynamic and versatile financial institution. Over the years, it has evolved into a multipurpose, perpetual, and multi-dimensional Modaraba.
PIM proudly holds a listing on the Pakistan Stock Exchange, a testament to its commitment to transparency and investor trust. Furthermore, it is a proud member of the Non-Banking Finance Institutions (NBFI) and Modaraba Association of Pakistan, reflecting its dedication to adhering to industry best practices.
In 2013, Popular Islamic Modaraba was acquired by Popular Islamic Modaraba Management Company (Pvt.) Limited, with the strong sponsorship of the Popular Group of Industries. The Popular Group of Industries is a diversified conglomerate with a wide range of business interests, including Fruit Juices, Textile, Sugar, Plastic, Packaging, Cement, and more. The Group has recognized the potential and significance of Islamic Financing and has strategically entered this sector to actively contribute to the growth of Shariah-compliant finance in Pakistan.
Popular Islamic Modaraba specializes in offering a diverse array of Islamic Financing modes, which include:
Ijara
A lease-based financing arrangement.
Diminishing Musharaka
A partnership-based contract with gradual ownership transfer.
Murabaha
A cost-plus financing arrangement where the FIM sells the asset.
Musharaka
A partnership agreement where two sides make a joint contribution.
Istisna
A contract for the sale of specified goods to be manufactured.
Salam
A contract for the future delivery of goods.
In addition to Islamic Financing, Popular Islamic Modaraba is also actively involved in Shares Trading and Advisory Services. The institution is keen to expand its reach and impact by entering the Live Stock sector, further diversifying its portfolio to meet the evolving needs of its valued customers.
As Popular Islamic Modaraba continues to grow and evolve, it remains dedicated to providing ethical and Shariah-compliant financial solutions, contributing to the development of Islamic Finance in Pakistan, and serving as a trusted partner for individuals and businesses seeking to achieve their financial goals while adhering to Islamic principles.