Board meeting of Standard Chartered Modaraba to be held on October 22, 2015

Karachi: Standard Chartered Modaraba informed Karachi Stock Exchange about the board meeting of the company scheduled to be held on October 22, 2015 at Karachi. The agenda of the meeting shall be consideration of quarterly accounts for the period ended September 30, 2015.

Further, the closed period of the company shall be from October 15, 2015 to October 22, 2015.

Standard Chartered Modaraba was formed under the Modaraba Companies Modaraba Floatation and control Ordinance, 1980 in Pakistan in 1987. The rules of the company are framed under the Standard Chartered Services of Pakistan Private Limited. The management company is a wholly owned subsidiary of Standard Chartered Bank Pakistan Limited. The stocks of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the company is located in Karachi.

The modaraba is a perpetual modaraba and is primarily engaged in leasing/ ijarah of plant, machinery, motor vehicles and computer equipment etc. The company invests in the commercial and industrial ventures suitable for the modaraba. It offers both Consumer and Wholesale Shariah compliant financing products.

The symbol “SCM” is being used by the stock exchanges for the shares of Standard Chartered Modaraba Limited.