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Karachi, Modaraba Al-Mali has announced today the successful completion of the subscription process for the Directors and Substantial Certificate-holders of the company. An impressive amount of Rs. 13,058,800 has been deposited into the designated bank accounts, marking a significant milestone for the organization. This development took place on June 2, 2023.
The subscription money, as specified in the company’s right entitlements, has been promptly transferred to the accounts maintained with the designated banker(s). Modaraba Al-Mali expresses its satisfaction with the smooth completion of this crucial phase, highlighting its commitment to providing value to its stakeholders.
In line with regulatory requirements, the company is in the process of obtaining an Auditors Certificate to confirm the successful deposit of the subscription money. This certificate will be submitted to the appropriate authorities in due course. Modaraba Al-Mali emphasizes its dedication to adhering to transparent and accountable practices, ensuring the integrity of its financial operations.
The completion of the Directors’ and Substantial Certificate-holders’ subscription is a positive step for Modaraba Al-Mali, signifying the confidence of its stakeholders in the company’s prospects. The funds raised through this subscription will contribute to the further growth and expansion of the institution, allowing it to continue offering innovative financial solutions to its valued clients.
Modaraba Al-Mali remains committed to delivering excellence in its operations, maintaining trust with its investors, and upholding its position as a leading player in the financial industry.