First Equity Modaraba (FEM) is managed by Premier Financial Services (Private) Limited, derives its board from the Crescent Group, with direct involvement in more than twenty business sectors. This cross-sectoral expertise, enhanced by other linkages, is an invaluable base for informed decision making. FEM's professional management draws on this unique resource to make optimal use of its charter to undertake trading, manufacturing and capital market operations, their financing and facilitation.

Islamic Finance and facilitation
First Equity Modaraba was floated in end 1991 as a multipurpose and perpetual closed-end fund. FEM can undertake variety of fund and fee based activities including Morabaha, Musharika, trading, manufacturing, equity investment, fee and commission and other activities not against the injunction of Islam.

Islamic Brokerage
First Equity Modaraba (FEM) is the first in the Modarabas operating in Pakistan who acquired the membership of all the three stock exchanges of Pakistan to undertake the brokerage business.
On August 21, 2002, the Securities and Exchange Commision of Pakistan (SECP) has granted the license to FEM to carry out stock exchange transactions. Thereafter, from September 2002 FEM commenced full-fledged brokerage operation from the Karachi Stock Exchange.
During this period FEM developed a good clientele of corporate and individual clients.
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