In 1987, Modaraba Al-Mali was
established by a group of experienced bankers and
businessmen as one of the pioneering Modarabas to undertake
leasing, morabaha and musharika business on the principles
of Islamic financing.
In May 2004, The Management of JS
Finance Limited [Formerly Al-Mal Corporation Limited]
Management of Company of Modaraba Al-Mali, was taken over by
Mr. Jahangir Siddiqui. Presently 75% holding in JS Finance
Limited is in the name of Mr. Jahangir Siddiqui, while DCD
Investment Limited, a DCD Group Company, holds remaining
25%.
Modaraba Al-Mali since its inception
has written over 1500 leases at prime cost of nearly Rs 1
billion, a substantial portion of these leases pertain to
small and medium ticket assets which are of the nature of
ancillary asset items to increase production capacity and to
enable lessees to conduct the business at higher levels of
efficiency.
