Board meeting of Standard Chartered Modaraba will be held on August 25, 2015

Karachi: Standard Chartered Modaraba informed Karachi Stock Exchange that board of directors meeting of the bank will be held on August 25, 2015 at Karachi. The agenda of the meeting is to consider and approve annual accounts of Company for period ended June 30, 2015.

Further, the Company has declared the Close period from August 18, 2015 to August 25, 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.