Sindh Modaraba Stock

Sindh Modaraba Management Limited is a perpetual, multipurpose and multidimensional Modaraba and is engaged in providing Shariah-compliant financing facilities to creditworthy customers. The Company's products include Murabaha, Salam, Ijarah, Diminishing Musharaka, and Housing Finance. Murabaha is a non-participatory mode of Islamic financing where the Company sells the asset required by its client to the client on a cost-plus profit basis. Salam is a short-term agreement, in which a financial institution makes full prepayments for future delivery of a specified quantity of goods on a specified date. Ijarah is an exchange transaction, in which a usufruct of an asset is transferred to a lessee in return for a payment, but where ownership of the asset itself is not transferred. In Diminishing Musharaka contract, a financier and his client participate either in the joint ownership of a property or equipment. The housing finance product is based on the concept of Diminishing Musharakah.