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.
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
During this period FEM developed a good clientele of corporate
and individual clients.