Modaraba Background
Al-Zamin Leasing Modaraba commenced its operation in August 1992
with a paid-up capital of Rs.100 million. It was listed on the
Karachi, Lahore and Islamabad Stock Exchanges in July 1992 through public offer which was seven times oversubscribed.
The Principal place of business of the Modaraba and its Zonal
Offices are situated
as follows:
The promoters of the Modaraba included reputed financial institutions
of the country, professional bankers, respectable businessmen and retired civil servants.
Since inception, Al-Zamin has managed to establish itself as one
of the most successful and growth oriented financial institution of
the country.
The current status of Al-Zamin in the context of the Modaraba and
Leasing sectors is highlighted by the fact that its image in the
market is that of the highly professional and progressive
organization distinguished on the basis of its quality and
stability.
JCR
VIS Credit Rating Company Limited has reaffirmed the
entity ratings of
Al-Zamin Leasing Modarabah (AZLM) at ' A- / A-2 ' (Single A Minus/ A-Two). The rating assigned to the first and
second trenche of the listed Musharakah term finance
certificates have also been reaffirmed
at 'A' (Single A). Outlook on the rating remains 'stable' .
(Click for Press Release).
As a part of its growth strategy, Al-Zamin successfully completed two mergers by way of amalgamation
of the operations, assets and liabilities of Ghandhara Leasing
Company Limited and First Professional Modaraba into Al-Zamin
Leasing Modaraba. Al-Zamin's equity
stands at Rs.353 million and asset base at Rs.3,747 million as
per first quarter unaudited accounts as of 30th
September 2008.
