It is planned to mobilize substantial additional resources without the element of “Riba” using the following basic forms;

• Musharikah

• Morahabah

• Modaraba

• Istasnah

• Levered Leasing

• Other permissible Islamic modes

Some of the sources of resource mobilization identified are as follows:

• Suppliers and export finance credit on lease, morabaha or on profit and loss sharing basis.

• Foreign currency finance on Islamic mode after obtaining the approval of State Bank of Pakistan.

• Obtaining funds from individuals, non-resident Pakistani’s, national and international financial institutions on profit and loss sharing basis.

• Selling/assigning lease and investment portfolio in the secondary market.

• Issuing short term non-interest bearing papers, certificates of investment of not less than 30 days maturity.

• Any other mode of resource mobilization permissible under the Shariah, with the expectation of banking business and insurance business as defined in the Banking Companies Ordinance, 1962 and the Insurance Act, 1938 respectively. In this connection, the Modaraba will neither issue cheque book nor accept deposits of less than 30 days

All the operations and transactions shall be in conformity with the injunctions of the Holy Quran and Sunnah and in accordance with the arrangements/instruments approved by the Religion Board from time to time or to be got approved from the Religious Board.