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Ayaz-Dawood,elected as Chairman Modaraba Association

Ayaz-Dawood,elected as Chairman Modaraba Association

Ayaz-Dawood, Chief Executive, B R R Guardian Modaraba has been ayaz-dawoodelected as Chairman of NBFC & Modaraba Association of Pakistan

According to the announcement, Syed Nauman Akhtar, CEO, Security Leasing Corporation Limited, Aamir Malik, CEO, First Punjab Modaraba, Khaqan H Ibrahim, CEO, First National Bank Modaraba, Rehan Anjum, CFO, Sindh Leasing Company Limited, Qazi Obaid Ullah, CFO, First Equity Modaraba and Osama Iqbal, CFO, SME Leasing Limited were elected as Member Executive Committee: The General Body approved the audited accounts of the Association for the year ended 30 June, 2016 and appointed the Auditors for the year ending 30 June, 2017.

Earlier, Mahfuz-ur Rehman Pasha, outgoing Chairman, highlighted the events and activities undertaken by the NBFI & Modaraba Association of Pakistan during the last year. He welcomed the newly elected Committee led by Ayaz Dawood and said he and his team had tried to resolve sector issues to a great extent but challenges still prevailed particularly in the field of regulatory issues such as Amendment in Modaraba Rules and Modaraba Ordinance and other related issues.

The newly elected Chairman Ayaz Dawood thanked the outgoing chairman and appreciated the work done by the outgoing Committee and the Secretary General and other staff of the Association. He stressed the need to work together as an association to overcome the challenges and indicated his wish to take the Association even further as a vibrant and active entity especially in its relationship with the regulator.