First Habib Modaraba - In Pakistan the Modaraba as entity promulgated through law called “Modaraba Companies and Modaraba (floatation & control) Ordinance 1980 (MCMO) and Modaraba Rules, 1981. These Rules and Ordinance provided an opening for establishment of Modaraba Companies as an entity. The thrust was to develop a corporate sector to conduct its business in conformity with Sharia’h financial system.FHM commenced its business operation in March, 1985 with initial capital of Rs.25.0 million only. It is a multipurpose Modaraba engaged in various Islamic Financial Services like Ijara, Murabaha, Diminishing Musharaka and other Sharia’h compliant financial activities including deposit taking activities through Certificate of Musharkah (COM) and other Shariah complied mode. However, continuing with solid, dynamic and prudent approach now Allhamdollilah, the FHM has a Paid up capital of Rs.1.00 billion and total equity base of around Rs.2.800 billion.